Weather
The Pine Tree, News for Calaveras County and Beyond Weather
Amador Angels Camp Arnold Bear Valley Copperopolis Murphys San Andreas Valley Springs Moke Hill/West Point Tuolumne
News
Business Directory
Weather & Roads
Sports
Real Estate
Search
Weekly & Grocery Ads
Entertainment
Life & Style
Government
Law Enforcement
Business
Wine News
Health & Fitness
Home & Garden
Food & Dining
Religion & Faith
Frogtown USA
Legal Notices
Calendar
Polls
Columns
Free Classifieds
Letters to the Editor
Obituaries
About Us

Coming Soon...
Friday, Oct 19
08:00 AM Rummage to the Rescue
08:00 AM Rummage to the Rescue!
09:00 AM Quilt Show
09:00 AM Mountain Heirloom Quilt Faire
09:00 AM Quilt Show
11:00 AM Guided Tours of Ironstone Vineyards
All Day Calaveras/Amador County Autism/Aspergers Peer Support Group
05:30 PM Friday Night Music at Alchemy
Saturday, Oct 20
All Day Don't Miss The Mark Twain Wild West Fest in Downtown Angels Camp This Saturday!
All Day Quilt Show
All Day Mountain Heirloom Quilt Faire
All Day Quilt Show
10:00 AM Old Timers Museum Walking Tours Are Every Saturday at 10am.
11:00 AM Guided Tours of Ironstone Vineyards
11:00 AM Town Tours of Columbia State Historic Park
All Day Calaveras/Amador County Autism/Aspergers Peer Support Group
01:00 PM Octoberfest at Indian Rock Vineyards on October 20th
04:00 PM Harvest Happy Hour with Milliaire
Sunday, Oct 21
12:00 AM Before I Die Forum is Sunday, October 21st from 1 - 5pm in San Andreas
07:30 AM All You Can Eat Pancake Breakfast by Native Sons of the Golden West
Until 04:00 PM Quilt Show
Until 04:00 PM Mountain Heirloom Quilt Faire
Until 04:00 PM Quilt Show
11:00 AM Guided Tours of Ironstone Vineyards
All Day Calaveras/Amador County Autism/Aspergers Peer Support Group
Monday, Oct 22
All Day Calaveras/Amador County Autism/Aspergers Peer Support Group
Tuesday, Oct 23
All Day Calaveras/Amador County Autism/Aspergers Peer Support Group
Wednesday, Oct 24
11:00 AM Guided Tours of Ironstone Vineyards
All Day Calaveras/Amador County Autism/Aspergers Peer Support Group
Thursday, Oct 25
11:00 AM Guided Tours of Ironstone Vineyards
All Day Calaveras/Amador County Autism/Aspergers Peer Support Group
Friday, Oct 26
11:00 AM Guided Tours of Ironstone Vineyards
All Day Calaveras/Amador County Autism/Aspergers Peer Support Group
05:30 PM Friday Night Music at Alchemy
Saturday, Oct 27
10:00 AM Old Timers Museum Walking Tours Are Every Saturday at 10am.
11:00 AM Guided Tours of Ironstone Vineyards
11:00 AM Town Tours of Columbia State Historic Park
All Day Calaveras/Amador County Autism/Aspergers Peer Support Group
04:00 PM Harvest Happy Hour with Milliaire
Sunday, Oct 28
10:00 AM Join the Bear Valley Team this Winter! Job Fair in Murphys, October 28th!
11:00 AM Sunday Funday at Ironstone Vineyards
11:00 AM Guided Tours of Ironstone Vineyards
11:00 AM Town Tours of Columbia State Historic Park
All Day Calaveras/Amador County Autism/Aspergers Peer Support Group
Monday, Oct 29
All Day Calaveras/Amador County Autism/Aspergers Peer Support Group
Tuesday, Oct 30
All Day Calaveras/Amador County Autism/Aspergers Peer Support Group
Wednesday, Oct 31
11:00 AM Guided Tours of Ironstone Vineyards
All Day Calaveras/Amador County Autism/Aspergers Peer Support Group
Thursday, Nov 1
11:00 AM Prevent Flu this Season by Getting a Flu Shot
11:00 AM Guided Tours of Ironstone Vineyards
All Day Calaveras/Amador County Autism/Aspergers Peer Support Group

Search Announcements




Log In
Username

Password

Remember Me



Posted by: thepinetree on 12/28/2017 11:06 AM Updated by: thepinetree on 12/30/2017 10:55 AM
Expires: 01/01/2022 12:00 AM
:

Tax Cuts & The Jobs Act 2017 & What It Means For You! ~ By Gail Lee, EA

Arnold, CA...After much debate and wrangling, Congress has given us long awaited changes in how Americans are taxed. Most changes are effective on January 1, 2018. Here are some highlights of many changes as we all prepare for planning opportunities.




The increase in standard deductions for personal income tax returns will enable most people to file their taxes without having to itemize deductions. The standard deductions are $12,000 for single tax payers, $18,000 for head of household, and $24,000 for married filing jointly. Those who continue to itemize will be facing new limits. Among allowed deductions are: qualified medical expenses above 7.5% of adjusted gross income for 2018 (increases to 10% in 2019); local income, sales and property taxes limited to $10,000; qualified charitable contributions up to 60% of income; interest on an acquisition mortgage up to $750,000 but no deduction for home equity loans; personal casualty and theft losses only deductible if covered by specific federal disaster declarations; moving expenses only allowed for Armed Forces personnel.

The miscellaneous deductions that were subject to a limit of 2% of income are all gone. Among those are: tax preparation fees; unreimbursed employee expenses; financial advisor fees, and investment interest expense.
Some taxpayers may benefit from paying their property tax before the end of the year. Check with your tax advisor to see if this might be beneficial. Restrictions apply, so plan carefully.

There are no more personal exemptions, but families with children under 17 will see an increase in the child tax credit to $2,000 each. In addition, qualifying dependents who are not qualifying children are allowed a nonrefundable $500 credit each. Phase out income levels have been expanded.

The loss of personal exemptions is offset by lower tax rates. There are still 7 tax brackets, but the rates are lower and income levels have changed. Of the comparisons I have made for my clients, 80% have seen a reduction in their tax. Check with your tax advisor to see how you might do under the new plan.

The individual mandate of the Affordable Care Act goes away on January 1, 2019. Until then, those who have no minimal essential health insurance coverage will be subject to penalty unless an exemption applies.
The corporate tax rate has dropped from 35 % to 21%. “Pass through entities” will be able to deduct 20% of qualified business income from their taxable income. (There will be no reduction of income subject to self-employment tax.) This also applies to sole proprietors. One big change for businesses is the disallowance of business entertainment expenses. Business owners may still take customers to lunch, but they will not be allowed to deduct the expense.

As details are worked out, guidelines from the IRS should soon be available. Withholding tables will be released, and most taxpayers will see a reduction in federal tax withholding from their paychecks.


What's Related
These might interest you as well
phpws Business Directory

Photo Albums

Local News

Calendar


Mark Twain Medical Center
Meadowmont Pharmacy
Bank of Stockton
Bear Valley Real Estate
Bear Valley Cross Country
Cedar Creek Realty
Cave, Mine & Zip Lines
Fox Security
Bistro Espresso
Pinnacle Physical Therapy
Chatom Winery
Middleton's Furniture
Bear Valley Mountain Resort
Paul D. Bertini
Premier Properties
High Country Spa & Stove
Sierra Logging Museum
Calaveras Mentoriing

Ebbetts Pass Scenic Byway
Sierra Logging Museum
Jenny's Kitchen

Copyright © The Pine Tree 2005-2018