2018 Tax Year
If you make OVER the amount listed below in your filing status, you are required to file a tax return.
Single (under age 65) – $12,000
Single (age 65 & over) – $13,600
Head of Household (under age 65) – $18,000
Head of Household (age 65 & over) – $19,600
Married Filing Joint (both spouses under 65) – $24,000
Married Filing Joint (one spouse age 65 & over) – $25,300
Married Filing Joint (both spouses age 65 & over) – $26,600
Married Filing Separate (any age) – 0
Qualified Business Income Deduction:
For Sole Proprietors, Partnerships, S-Corporations, Corporations, Farms and certain Rental businesses,
there is a NEW potential income deduction of up to 20% of your business income. This can be a HUGE
tax deduction and benefit.
New Tax Forms – simpler or not?
The new promised “post card sized” tax form, sounds simpler, right???
Not always. The former two page form 1040 has now been stretched to include 8 pages, including 6 additional schedules.
Let the experts help you navigate the new tax law and multiple new forms. We have trained diligently throughout the year to help
you with your tax needs.