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More Info on 2018 Tax Changes-New IRS publication for Individuals

More Info on 2018 Tax Changes-New IRS publication for Individuals

by raleighcpa | Dec 11, 2018 | Blog, Deductions, Tax Payments, Tax Returns

While last year’s Tax Cuts and Jobs Act includes tax changes for both individuals and businesses, this publication is specifically geared to individual taxpayers. It breaks down the law in easy-to-understand language. The publication highlights the changes that...
New Depreciation Limits for Luxury Vehicles

New Depreciation Limits for Luxury Vehicles

by raleighcpa | Nov 19, 2018 | Deductions, Tax Returns, TCJA 2017, Vehicle Depreciation

The Tax Cuts and Jobs Act of 2017 (TCJA) increased depreciation limits for passenger vehicles (not SUVs). If the taxpayer doesn’t claim bonus depreciation, the greatest allowable depreciation deduction is: $10,000 for the first year, $16,000 for the second year,...

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