Shutdowns, Changes and Babies!
Welcome to 2019! The government knows how to ring in the new year with a government wide shutdown, but fear not! The IRS will still be processing tax returns, AND issuing refunds. The shutdown can affect other functions of the IRS such as the processing of amended returns, making non-automated payments, or audits (good!) If you would like to read more about this, Forbes has a great article on the subject.
2018 brought A LOT of new changes to the tax code, and it’s dizzying to try and follow it all. A couple big changes are the increase in the standard deduction, the reduction in many Schedule A deductions and the Qualified Business Income deduction. For many people, your tax return will not at all look like it did last year. The 2% deductions like union dues, legal, investment and tax prep fees are no longer deductible (sad face.) Employee business expenses aren’t either! Fortunately, the standard deduction has been raised to $12,000 for single and MFS, $18,000 for HOH, and $24,000 for MFJ.
Lastly, the best news (I might be biased,) is that my husband and I welcomed our second child, Charlytte May McEwan-Upright, into the world! Our daughter was born August 2nd, at home, and we are just SO in love! If you pop by the office, you might luck out and see the little squish for yourself, she visits every once in a while.
Our organizers will be going out the week of January 22nd, look for them in your e-mail!