Beyond the Numbers

Tax Cuts and Jobs Act (TCJA) Tax Law

A significant new tax deduction went in to effect January 1, 2018 under the new Tax Cuts and Jobs Act (TCJA) tax law. The changes are extensive and should provide a substantial tax benefit to individuals with “qualified business income” from a sole proprietorship, farm, rental, partnership, or S corporation. The new deduction is called…

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Is a Tax Surprise Waiting for You?

Often lost in the excitement of large-scale tax change is how they can negatively impact some individual situations. Check out the questions below to see if you might be in for a tax surprise this year. Will you pay more than $10,000 in state and local taxes? Previously, you could take a full deduction for…

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Manage Capital Gains Tax Tips

If not tracked and managed properly, capital gains tax can come as a large surprise at tax-filing time. In fact, many taxpayers don’t realize they have a capital gain until they get their 1099 form in January and see a capital gain distribution. Here’s what you need to know. Understand capital gains and their taxability…

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