January 2019 Newsletter

8 Disappearing Tax Deductions You'll Miss



When the Tax Cuts and Jobs Act was passed in 2017 it was clear there were major changes happening to the U.S. Tax Code, but exactly how those changes would affect average Americans wasn't so clear.

Now after a year of clarifications by the IRS things appear to be more solidified and taxpayers will need to adjust to the new law when it comes to deductions they've been used to taking for many years.

These eight vanishing deductions are likely the most commonly taken deductions by most Americans.

Why it matters: These changes will require you as a taxpayer to take action to avoid any unpleasant surprises at tax time. One change you'll need to make will be the number of personal exemptions you claim on your W-4. Those are now gone and not changing your W-4 could cause you to pay too little in taxes and end up with an unexpected tax bill. 

To see all eight disappearing deductions click the Read More tab.






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You Can Deduct This, But Not That

2019 will ring in the New Year with significant changes for tax filers. Whether you get a W-2 or 1099-Misc there are some things you should be aware of as April 15th approaches and you begin to prepare your 2018 tax return.

The most important and timely information first. Don't wait to file. We know, we know, you hear this every year, but this year we mean it! The government shutdown, if prolonged, could cause major delays in getting your tax refund if you expect to get money back.

The big picture: If you're self-employed or have a small business the Tax Cuts and Jobs Act passed in 2017 still allows for most of the business tax deductions you've been used to claiming in the past. However, there are a few deductions that changed or are disappearing altogether.

This is a great review as you prepare your tax return. You can read the entire article by clicking Read More below. 



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New year, new resolutions, but the same old tax deadline is just around the corner. Let's make sure you're ready...EARLY!

We'll get you up to speed on what to do with all of your Deductr info now that it's time to start preparing to file your taxes. We'll go over the reports section in detail as well as the rest of the features so you'll be ready to start 2019 right.

Join us for our free LIVE webinar on Wednesday, January 23rd at 7:00 PM Mountain time and we'll show you how to get ready for April 15th. It's not too late to get the jump on tax day!


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