Keith Boyer CPA's Blog

Topics and tips about accounting, taxes, business to personal finance and more!

Will Charities suffer in light of the TCJA?

Whether you're claiming charitable deductions on your 2017 return or planning your donations for 2018, be sure you know how much you're allowed to deduct. Your deduction depends on more than just the actual amount you donate. While December's Tax Cuts and Jobs Act (TCJA) preserves the charitable deduction, it temporarily makes itemizing less attrac...
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548 Hits

Moving costs deduction changes in 2018 (TCJA)

If you moved for work-related reasons in 2017, you might be able to deduct some of the costs on your 2017 return — even if you don't itemize deductions. (Or, if your employer reimbursed you for moving expenses, that reimbursement might be excludable from your income.) The bad news is that, if you move in 2018, the costs likely won't be deductible, ...
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520 Hits

The Home Office Deduction in 2018

Working from home has become commonplace. But just because you have a home office space doesn't mean you can deduct expenses associated with it. And for 2018, even fewer taxpayers will be eligible for a home office deduction. Changes under the TCJA For employees, home office expenses are a miscellaneous itemized deduction. For 2017, this means you'...
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990 Hits

TCJA Tax Plans are Available

We've been analyzing the benefits and disadvantages under the new tax law. So far most are saving Federal tax dollars, specifically those whom have been paying alternative minimum tax in the past. Although the state and local income taxes and the real estate taxes are limited to $10,000 in total, these individuals lost the benefit of those deductio...
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391 Hits
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