by Lynda Startzman | Feb 22, 2018 | Razorback News, Tax Information, Uncategorized
Many individual owners of pass-through entities will get a new 20% deduction. The rules cover sole proprietors and owners of “S” corporation, partnerships, and LLC’s. Real Estate Investments Trusts (REIT) shareholders and partners in publicly...
by Lynda Startzman | Feb 22, 2018 | Razorback News, Tax Information, Uncategorized
Unlike the individual AMT (Alternative Minimum Tax), lawmakers did away with the corporate AMT! Regular “C” corporations will pay a flat tax rate of 21%. This might be an increase of 6% for corporations that have less than $50,000 in taxable income. This...
by Lynda Startzman | Feb 21, 2018 | Razorback News, Tax Information, Uncategorized
529 college savings plans are enhanced to allow annual distributions of up to $10,000 per student to pay tuition for elementary and secondary education. There are favorable changes to ABLE savings programs for the disabled. The new law allows limited tax-fee rollovers...
by Lynda Startzman | Feb 14, 2018 | Razorback News, Tax Information, Uncategorized
The new tax law keeps the individual alternative minimum tax with higher exemptions: $109,400 for joint filers and $70,300 for singles and heads of household. Additionally, the exemption phaseout zones start at much higher income levels; above $1 million for couples...
by Lynda Startzman | Feb 14, 2018 | Razorback News, Tax Information, Uncategorized
Tax rates on long-term capital gains and qualified dividends do not change. Congress decided to set income thresholds instead of using tax brackets as in the past. The 0% rate will continue to apply for taxpayers with taxable income under $38,600 on single-filed...