Why Even High-Income Earners Are Not That Far From The Edge of Poverty

Despite earning more than $100,000 in household income many people still feel that they are living month-to-month and that a loss of employment or sudden medical emergency could easily move them from upper middle class to low income earners. This feeling of being on the “edge” of poverty, despite these …

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$500 Non-Child Dependent or Flexible Credit in Trump/GOP Tax Reform Bill

The now passed GOP/Trump tax bill contains a little known but important $500 credit for non-child dependents – e.g elderly or disabled dependents or children over 17. This credit is to provide some relief to those families who will lose the now defunct personal exemption and are not eligible for the expanded Child Tax …

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IRS Tax Changes for 2018

The IRS has released its 2018 tax updates via Notice 2017-64 and revenue procedure 2017-58. Highlights are provided below. Remember these updates are for 2018 taxes filed in 2019. For the upcoming 2017-18 tax year, I have included links (for filings due next year by April 17, 2018) where applicable. Personal Tax Brackets …

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