Brady Ware News

Six Last-Chance Tax Breaks

Do You Qualify? The new Tax Cuts and Jobs Act (TCJA) significantly changes some parts of the tax code that relate to personal tax returns. In addition to lowering most of the tax rates and increasing the standard deduction, the TCJA repeals, suspends or modifies some valuable tax deductions. As a result, millions of Americans…

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2018 Nonprofit Communications Trends Report

2018 Nonprofit Communications Trends Report The go-to source for what’s REALLY happening in the world of nonprofit communications and fundraising This report is compiled from the answers of over 1,100 nonprofit professionals who took the Nonprofit Marketing Guide.com’s 2018 Nonprofit Communications Trends Survey in November, 2017. They answered these and other questions: How effective do nonprofit…

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New Limits Imposed on Home Mortgage Interest Deductions

The Tax Cuts and Jobs Act (TCJA) imposes new limits on home mortgage interest deductions. Here’s how the changes could affect your tax situation. The Basics of Home Mortgage Interest Deductions and the New Limits For the 2018 through 2025 tax years, the new law generally allows you to deduct interest on only up to…

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Important Tax Figures for 2018

The following table provides some important federal tax information for 2018, as compared with 2017. Many of the dollar amounts are unchanged and some changed only slightly due to inflation.   Social Security/ Medicare 2018 2017 Social Security Tax Wage Base $128,400 $127,200 Medicare Tax Wage Base No limit No limit Employee portion of Social Security…

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Pass-Through Businesses Receive Tax Break

New Law Gives Eligible Pass-Through Businesses a Special Tax Break Federal income tax rates for C corporations have been reduced to a flat 21%, starting in 2018 under the Tax Cuts and Jobs Act (TCJA). But what about pass-through businesses? Congress devised a special tax break for pass-through businesses to help achieve parity between the…

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