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From the Headlines to your Bottom Line

Tax Reform: What’s Changing for Individuals?

A new set of rules will apply when you file your 2018 tax return next spring, thanks to the Tax Cuts and Jobs Act. The changes for individual taxpayers are sweeping, but most expire at the end of 2025. Unfortunately, many people are unclear about what's changing and how it might affect their tax obligations. Here's a list of 30 major tax issues to consider as you plan for the 2018 tax year.
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Watch Out for these Tax Issues When Planning for Your Business in 2018

The Tax Cuts and Jobs Act has significantly changed the federal income tax rules for businesses and their owners. Although many businesses and owners expect to owe less federal income tax in 2018, the impact of the new law depends on your specific circumstances. Here's a list of some tax buzzwords to be on the lookout for as you plan for the 2018 tax year.
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Will States Conform to the New Tax Rules?

Federal tax laws traditionally serve as the basis for many state tax laws. This year, in light of major federal tax reforms, some state legislators face a tough question: Which provisions of the Tax Cuts and Jobs Act should we conform to and which should we decouple from? Here are some key provisions of the new law that must be addressed and how each change might affect your state tax bill.
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How We Add Up

"Our clients rely on Fust Charles Chambers to provide innovative thinking by anticipating changes in tax laws, accounting methods and industry and economic trends. At other times, our clients depend on us to act as a sounding board for their ideas and concerns. We’re proud to be part of our clients’ team with the purpose of assisting them in attaining their goals and objectives."

- Joseph L. Charles, Partner