Skip to content


Recent Posts:

  • The Tax Cuts and Jobs Act of 2017 (TCJA)

  • The Tax Cuts and Jobs Act of 2017 (TCJA)

    Major Tax Changes Include:

    1.     Personal Tax Rates lowered and tax brackets changed (2%-4%)

    2.     Repeal of Personal Exemptions

    3.     Increased Standard Deductions (most doubled)

    4.     Limit to Personal deduction of all State and Local taxes of $10,000 per year

    5.     New Residence purchases limits interest deduction to first $750,000 of debt

    6.     Repeal of Miscellaneous Itemized Deductions

    7.     Personal AMT Exemption increased

    8.     ACA (Obamacare) Penalty for non-compliance repealed

    9.     New Qualifying Small Business Deduction of 20% of net income

    10.   Corporation income tax rate of 21%, with no graduated rates

    11.   Corporation AMT repealed

    12.   Bonus Depreciation increased to $1 million per year

    13.   Net Operating Losses (NOLs) are limited to 80% against business income

    14.   Estate & Gift Tax Exemption increased to $10 million

    15.   In 2019, Alimony will not be income on receipt nor deducted on payment

    Tom Bargsley | 01/04/2018

    We take care of your books for you, so you can get back to the job of running your business and generating profits.
    Learn More...
    We offer payroll solutions that meet your business's needs and enable you to spend time doing what you do best--running your company.
    Learn More...
    We offer a variety of services to help make sure that you are taking full advantage of Quickbooks' many features.
    Learn more...
    We're here to help you resolve your tax problems and put an end to the misery that the IRS can put you through.
    Learn More...
    We offer one-on-one guidance and a comprehensive financial plan that helps manage risk, improve performance, and ensure the growth and longevity of your wealth.
    Learn More...

    © Tom Bargsley, CPA 2021