December 2017 - Philadelphia CPA
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December 2017

Many of my clients have asked about the new tax brackets-here they are!!For Single FilersNew Rate.    New Income Tax Bracket.    Old Rate.    Old Bracket 10%.                up to $9,525.                              10%.       up to $9,525 12%.                9,525-38,700                              15%        9,525-38,700 22%                38,700-82,500                           25%.       38,700-93,700 24%                82,500-157,500.                         28%.      93,700-195,450 32%                157,500-200,000                       33%       195,450-424,950 35%                200,000-500,000                    ...

POLICY HIGHLIGHTSThe Tax Cuts and Jobs Act (H.R. 1) overhauls America’s tax code to deliver historic tax relief for workers, families and job creators, and revitalize our nation’s economy. By lowering taxes across the board, eliminating costly special-interest tax breaks, and modernizing our international tax...

Monthly Newsletter December 2017 Home Office with More Than One BusinessThe office-in-the-home deduction produces good-to-excellent tax savings by turning personal house expenses into business deductions. Additionally, it enables you to deduct big vehicle expenses by eliminating nondeductible commuting mileage. But to qualify for the home-office deduction,...