Avoid a Surprise Tax Bill
If you usually itemize on your taxes you may be affected by recent changes to the Tax Cuts and Jobs Act.
The new law makes a number of major changes including:
-EXCLUDING deductions for employee business expenses, tax preparation fees, and investment expenses, including investment management fees, safe deposit box fees, and investment expenses from pass-through entities.
This means if you USUALLY ITEMIZE you may want to check your withholding calculations to be sure your employer is withholding the appropriate amount of tax from your paycheck for your financial situation.
Your tax bill could be greatly impacted.
If you have questions or would like to speak with one of our tax professionals about your situation.