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TCJA temporarily lowers medical expense deduction threshold

TCJA temporarily lowers medical expense deduction threshold

by Capocore Professonal Advisors | Feb 6, 2018 | Individual Tax Brief

With rising health care costs, claiming whatever tax breaks related to health care that you can is more important than ever. But there’s a threshold for deducting medical expenses that may be hard to meet. Fortunately, the Tax Cuts and Jobs Act (TCJA) has temporarily...
State and local sales tax deduction remains, but subject to a new limit

State and local sales tax deduction remains, but subject to a new limit

by Capocore Professonal Advisors | Jan 30, 2018 | Individual Tax Brief

Individual taxpayers who itemize their deductions can deduct either state and local income taxes or state and local sales taxes. The ability to deduct state and local taxes — including income or sales taxes, as well as property taxes — had been on the tax reform...
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Capocore Professional Advisors - 46 W. Shadbolt Ste A Lake Orion, Michigan 48362