For children with unearned income, the change made with the Tax Cuts and Jobs Act of 2017 to the calculation of tax on that income, the so-called “kiddie tax”, has been repealed.  This tax is now calculated as it was prior to 2018.  In addition, if the taxpayer was subject to this tax, an election may be made to amend the 2018 return to recover any difference between the revised tax and the tax as paid.  If your children were subject to this tax in 2018, please contact our office to discuss whether an amended 2018 return may be beneficial.

With the passage of the SECURE ACT, various requirements for contributions to and distributions from an IRA have changed.  Please contact our office for a discussion of how these new rules might affect you.

Beginning January 1, 2020, the standard mileage rates for use of a car, van, pickup or panel truck are;

  • 57.5 cents per mile for business miles driven, down 0.5 cents from 2019
  • 17 cents per mile for medical purposes, down 3 cents from 2019
  • 14 cents per mile driven for service or charitable organizations

Beginning January 1, 2019, the standard mileage rates for use of a car, van, pickup or panel truck are;

  • 58.0 cents per mile for business miles driven, up 3.5 cents from 2018
  • 20 cents per mile for medical purposes, up 2 cents from 2018
  • 14 cents per mile driven for service or charitable organizations

Beginning January 1, 2018, the standard mileage rates for use of a car, van, pickup or panel truck are;

  • 54.5 cents per mile for business miles driven, up 1 cent from 2017
  • 18 cents per mile for medical or moving purposes, up 1 cent from 2017
  • 14 cents per mile driven in service or charitable organization
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