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Changes to the individual and corporate income tax rates that take effect beginning in 2018 under the major piece of tax legislation called the Tax Cuts and Jobs Act (the Act).

December 28, 2017

Changes to the individual and corporate income tax rates that take effect beginning in 2018 under the major piece of tax legislation called the Tax Cuts and Jobs Act (the Act).

Rate changes for individuals. Individuals are subject to income tax on “ordinary income,” such as compensation, and most retirement and interest income, at increasing rates that apply to...

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New limit placed on individuals' itemized deductions of various kinds of nonbusiness taxes, which was made by the massive Tax Cuts and Jobs Act (the Act), effective beginning with the 2018 tax year.

December 28, 2017

New limit placed on individuals' itemized deductions of various kinds of nonbusiness taxes, which was made by the massive Tax Cuts and Jobs Act (the Act), effective beginning with the 2018 tax year.

Before the changes were effective, individuals were permitted to claim the following types of taxes as itemized deductions, even if they were not business related:

(1)  state,...

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1099 Filing Deadline

Deborah Hylander

December 27, 2017

The deadline for filing Forms 1099 for payments made in 2017 is January 31, 2018!

The IRS requires Form 1099 to be filed if you made payments during the year as part of your trade or business for the following activities:

  • Services performed by independent...

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How are taxes on business income calculated under tax reform?

Dominique Molina

December 20, 2017

How are taxes on business income calculated under tax reform? By Dominique Molina
 

As of the time of this writing, the House has just passed its recently approved conference version of tax reform and the Senate is scheduled to vote within days.  The latest version of the bill leaves more questions than answers, particularly in the area surrounding pass-through business...

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Trump's Tax Plan Proposal: What's in it for you?

April 27, 2017

Individual Taxes

•        Cut brackets to three: 12-25-35%

•        Double the standard deduction

•        Unspecified new relief for families with children and dependent care costs

•        Eliminate...

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Our New Website

Hylander CPA Firm PLLC is excited to announce the recent launch of our firm’s new website. We’ve been working very hard to enhance our website and give our firm a fresh look. We’ve also continued to research and identify the latest and greatest technologies to improve the services we provide and ensure we continue to meet your needs.

Take a moment to look around...

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