The New Standard Deduction Is Deceptively High – TCJA

The New Standard Deduction Is Deceptively High - TCJA
Let’s talk Standard Deduction, the small change with the big responsibility of making taxes easier. Remember the Post Card Tax Return? Oh man, the few months since that promise have been an eternity in the tax world. Of course Post Card Tax Returns were never going to happen, mostly because logistically it’s a lot easier ...

The Kiddie Tax Overhaul in the TCJA Actually An Improvement

The Kiddie Tax Overhaul in the TCJA Actually An Improvement
If there‚Äôs part of the tax code makes me feel a little icky, it’s the awkwardly named Kiddie Tax. No, that’s not the official Washington approved name, but it’s stuck somehow, likely due to some heavyset blonde accountant–with a wisp of a moustache creeping on his upper lip–preparing cut rate tax returns from the back ...

Inflation Adjustments Under The TJCA

Inflation Adjustments Under The TJCA
There are some parts of taxes that are so boring that even tax accountants won’t talk about them. For the Tax Cuts and Jobs Act of 2017 (TCJA), the part that puts the accountants to sleep during the work day (yet somehow manages to get the economists’ blood boiling) is the change to inflation. Changing ...