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Alternative Minimum Tax Document

3 Ways the Alternative Minimum Tax is Affected by The New Tax Reform

Alternative Minimum Tax (AMT), like its name infers, is a minimum tax applied to taxpayers. Currently, the tax code allows taxpayers to qualify for a lot of different deductions and credits. AMT ensures that high-income earners pay a minimum tax. It… Read More
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Categories: New Tax Law
Mother and Father Cheering about Child Tax Credit

4 Important Things You Need to Know about How the Child Tax Credit was Affected by the New Tax Reform

Are you one of the millions of Americans who rely on the Child Tax Credit to help offset your annual tax bill and provide you with some extra cash to get caught up on expenses, move, or plan a family vacation? The Child Tax Credit provides some extra… Read More
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Categories: New Tax Law
Charitable Giving: Donation box with food.

Four Things You Should Know about How the New Tax Reform Affects Charitable Giving

Like in years past, you must take the itemized deduction to receive any credit for donations of cash or goods to your favorite charities. Eligible donations that are deductible, include money and gifts given to: churches or religious organizations; f… Read More
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Sticky Note - Tax Law Changes for 2018

​Will the New Federal Tax Law Mean Ohioans Pay Higher Income Taxes?

It depends. Most taxpayers will not see a significant net tax change. Tax rates are decreasing. The standard deduction is nearly doubling. Deductions are being capped and eliminated. The Alternative Minimum Tax exemption is increasing. The people mos… Read More
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Categories: New Tax Law
Toy House on Tax Return - Mortgage is Deductible

Is Mortgage Interest Still Deductible on Your Tax Return?

Currently, for the tax return you will file for 2017, the mortgage interest deduction remains unchanged. The New Tax Reform, signed into law by President Trump on December 22, 2017, changes the deduction significantly for people who have a home equit… Read More
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Calculator: 2018 Tax Laws

New Tax Laws in 2018

Under the new tax laws, most of the changes will affect your 2018 tax return (taxes you will file in 2019). Many of the changes affect the standard and itemized deductions, including the nearly doubling of the standard deduction and removal or reduct… Read More
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Categories: New Tax Law
Clipboard with Text: Are You Covered? (Health Care Insurance Question on 2017 Tax Return)

​Do You Have to Answer the Health Insurance Coverage Question on Your 2017 Tax Return?

The IRS is handling the health insurance coverage question on your 2017 tax return differently this year. For the tax return you will file in 2018 and 2019 for tax years 2017 and 2018 respectively, you will need to answer the health insurance coverag… Read More
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Categories: New Tax Law
Pencil Erasing

​How Do I Qualify for the New Business Income Deduction?

President Trump signed into law the new tax reform on December 22, 2017. One of the biggest changes under the new reform is the up to 20% tax deduction of qualified business income for flow-through business entities subject to limitations. This deduc… Read More
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File Folders of State and Local Taxes

Will You Be Able to Continue to Deduct Ohio Income Taxes from Your Federal Taxes?

The new tax reform, signed into law by President Trump on December 22, 2017, brought sweeping changes to the current tax code. One of the biggest changes is the cap on state and local taxes (SALT) and the nearly doubling of the standard deduction t… Read More
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Man with Fingers Crossed Worried About 2017 Taxes

How Will the New Tax Law Affect Your 2017 Taxes?

President Trump signed the new tax reform bill into law on December 22, 2017. The biggest rewrite of the tax code in almost thirty years has left taxpayers confused about how it affects the taxes they will file for 2017. Most of the changes will take… Read More
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