Individuals are influenced a lot by the Tax Cut and Jobs Act of 2017 (TCJA). Itemized deductions are the biggest loss, but there are gains. Standard deduction increases with elimination of exemptions, along with 7.5% 2017 AGI floor, carrying forward to 2018. More take home can be enticing, but planning is important, because these benefits are not in stone, they have sun set clauses that will revert in 2026, you need to be prepared and have proper plans. AF Com Accounting is presenting this work shop for individuals to learn, plan, and prepare for what is to come in order to support a more stable development. SpiritSeeker, senior accountant, founder, and owner will help you through this journey.

1) Exemptions Gone, Standard Deductions Up, Sunset 2026 then reverts back.
2) With Holdings will go down for lower tax brackets, take home increases, Sunset 2026.
3) Itemize deductions almost all gone except : Charity, Mortgage, Property Taxes, Medical
4) ACA Penalty ends 2019
5) Causality is gone unless in a disaster.
6) Child Tax Credit is Up (refundable)
7) College interest up to $2,500 made it through along with credits.

About the Presenter:

Spirit Seeker is a Plymouth Regional High School Graduate, a Plymouth State University Graduate, and has received his Masters from PSU. He has been in the field of accounting since 2014, has enrolled with the IRS as an Enrolled Agent (2017), and with this credential is working to keep the public informed and growing towards a more stable economy. AF Com Accounting holds these values through Integrity, Stability, Community, and Service. That is to say transparency, supporting its clients all the way, helping in times of need, and above and beyond service on every step on the road through development.