David M.Green Bookkeeping and Tax Service -

Recent Posts

Standard Mileage Rates for 2018 Up from Rates for 2017
Senate Passes Tax Reform Bill
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Like Harvey, Retirement Plans Can Make Loans, Hardship Distributions to Victims of Hurricane Irma
IRS Has Refunds Totaling $1 Billion for People Who Have Not Filed a 2013 Federal Income Tax Return
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Fiscal Cliff Emerging Tax Implications On Pending Deal

Emerging fiscal cliff deal would include permanent alternative minimum tax patch.
Emerging "cliff" deal would raise tax on income above $400k/yr individual and $450k/yr per household
 Emerging deal would include permanent extension of middle class tax cuts
Emerging deal would extend unemployment benefits for a year
Emerging deal would raise estate tax from 35 pct to 40 pct
Emerging deal would extend child tax credit for five years
Emerging deal would extend college tax credit for five years
Emerging deal would extend earned income tax credit for five years
Payroll Tax Holiday is not scheduled to be voted on which is a 2% Social Security  tax hike for  every American Worker.
$1 trillion in Obamacare tax hikes will hit January 1st, no matter the outcome of the fiscal cliff deal
As more details are released as this bill has not yet come up for a vote in the Senate,I will update the fate for the other tax deductions that are about to expire.

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