Posts Tagged ‘Income Tax’


Understanding the New 20% Pass-Through Income Tax Deduction

In December, 2017 President Trump signed the new tax bill.  This is known as the Tax Cuts and Jobs Act (TCJA).  What received a lot of attention in the media was the tax cuts for individuals. For Connecticut taxpayers, check out Four Easy Steps for CT Taxpayers to Plan for Their 2018 Income Tax.

Also, as part of the TCJA, for eligible entities, there is a new 20% Pass-Through Deduction, which is also known as a Section 199A deduction.  … Continue reading »


Four Easy Steps for CT Taxpayers to Plan for their 2018 Income Tax

1. Know the Tax Law Changes

 

In December 2017 President Trump signed the new tax bill.  This new law is known as the Tax Cuts and Jobs Act (TCJA).  Much of the discussion surrounding the TCJA is tax cuts for individual taxpayers.

 

Overall income tax rates were cut.  The highest federal income tax rate which was 39.6% has been cut to 37%.  This is one of many other … Continue reading »


7 Ways The 2017 Tax Bill Affects Connecticut Taxpayers

 

 

1) Decrease in Income Tax Rates

 

The 2018 income tax rates are as follows:

Single                                        Married Filing Joint 10%  up to $9,525                      Up to $19,050 12% $9,526 to $38,700               $19,051 to $77,400 22% $38,701 … Continue reading »


A Summary of the Proposed Tax Law & How It Affects You

The US senate passed their version of the tax reform – the Cuts and Jobs Act – on December 2nd.  The bill differs from the version that the House passed last month, which means the 2 houses will have to reconcile their differences before a final bill can be voted on and passed before it can be presented to the President for his signature.

 

Senate Version

New brackets & break points. The Act would provide seven tax brackets for … Continue reading »


Shred Week A Huge Success

Borgida & Company Clients Save the Planet While They Clean Up!

 

Dozens of clients joined in for our first “Shred Event” last week. Eight very full, heavy bins full of old financial documents, checkbooks, tax returns, etc. were shredded as relieved clients unloaded years of unneeded documentation. Over 1,800 pounds were collected last week.

Many people didn’t realize that by shredding their information, they are actually taking part in a “green initiative”. Shredded material gets recycled; and by using less … Continue reading »