Tax Pro Plus
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Suite 204
Los Angeles, CA 90064
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Ph: (310) 827-4829
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info@taxproplus-la.com
- Moving Deductions are Kaput
- Prior to the passage of tax reform, individuals who moved as the result of a job change or job relocation could deduct their unreimbursed moving expenses if the driving distance from their home to the new job location was at least 50 miles more than the driving distance from home to the old job location. There was also a requirement that the individual work in the new location for a specified minimum period of time after the move.
- Big Changes for Vehicle Tax Deductions
- In the past, the business use of a vehicle was determined either by using the standard mileage rate for business or using actual expenses plus vehicle depreciation limited by the luxury auto caps. That continues to be the case, except the luxury auto depreciation limit has been substantially increased. In addition, there are other changes as detailed below.
- You Could Have An Unpleasant Surprise At Tax Time
- A major concern for 2018 is whether taxpayers are having enough withheld from their paychecks. Watch video to learn more.
- Is Your Individual Taxpayer Identification Number Expiring?
- The IRS recently announced that approximately 2.7 million Individual Taxpayer Identification Numbers (ITINs) will be expiring at the end of 2018 and will need to be renewed
- Has Tax Reform Taken Away Your Home Mortgage Interest Deduction?
- The Tax Cuts and Jobs Act of 2017, more commonly referred to as tax reform, substantially altered the itemized deduction for home mortgage interest and affects just about everyone who has been deducting their home mortgage interest as an itemized deduction on their tax returns.
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