Tax reform quick hits

This week we will cover a few more headline-grabbing changes for individuals from the tax reform package. First, Congress eliminated the Obamacare coverage mandate, and there will be no penalty starting 2019. Unfortunately for those looking forward to immediate savings, this does not apply yet—without a waiver or exemption, taxpayers still need health insurance until December … Read more Tax reform quick hits

Changes to the Big Three: SALT, home mortgage interest and charitable contributions

We have nearly finished covering the changes made to individual taxation! Business owners can prepare for the upcoming crash course in new tax structures, but for now, we return to the adjustments that affect those who itemize their deductions.  First is the State and Local Tax Deduction, known as SALT. Previously, taxpayers could deduct the entirety … Read more Changes to the Big Three: SALT, home mortgage interest and charitable contributions