Hi Tax Filers,
Individuals should keep in mind that most middle class Americans will take advantage of the higher standard deduction in 2018, except for those with large mortgages and high interest, excessive medical bills, and/or high contribution amounts.
Dependent deductions are eliminated and terms of the Child Credit have improved, seemingly due to the higher standard deduction and lower rates. I am excited to see how this will effect the tax liabilities of different categories of filers and hope it is as positive overall as the President expects.
We are here to take a look at what you have going in your small businesses and perhaps we can give you some encouragement and help.
We look forward to continuing completion of the 2017 taxes that will be on extension for Corporations, S Corps, partnerships, trust, and individual tax filers through the fall of 2018. Year end, starting in November, is a good time to look at the year and do whatever is possible to maximize your situation based on the new laws.
We are entering the final stretch tomorrow, Monday and Tuesday, April 16th and 17th. It seems that Washington D.C. exclusively celebrates Emancipation Day on the 16th, which is good from an internal administration perspective as the post offices are still open. This enables us to get most of the non e-filed tax returns out, and leaves us with an extra day on Tuesday in case we have some final cases to deal with.
I appreciate the good response we had this year to several of our blogs, specifically the one, with the business tax calculator. Thank you for your support and business and I wish you continued success in the rest of the year.