2018 TAX CHANGES

                                                2018 Tax Changes

Item:                                             Old Rule                                   New-2018

____________________        __________________         ___________________

C Corporation Taxes                  15%-35%                             One bracket – 21%

Estate Tax                           40% of value over 5.5 M     40% of value over 11 M

State & Local Taxes                   unlimited                       Capped at $10,000 total

Mortgage Interest            Up to $1 M acquisition                     Up to $750,000

                                            Up to $100,000 equity        No Equity, unless Bldg

Standard Deduction        $6,350/$9,350/$12,700         $12,000/$18,000/$24,000

Personal Exemption                $4,050                                             None

Casualty Loss                        Over 10% AGI                  Only on federal disaster

Medical Expense          10% of AGI/Over 65-7.5%    All -7.5% AGI (2017 & 2018)

Moving Expenses        Over 50 miles from old job      Only active duty service

Alimony                           Deductible/Taxable        Neither Deductible or Taxable

Misc Itemized               Deductible > 2% AGI                        No deduction

Child Credit                               $1,000                                          $2,000

Business Entertainment    50% Tax Deductible                     Not deductible

Business mileage                    53.5 cents/mile                     54.5 cents/mile

ObamaCare                     Individual Mandate (IM)          Eliminated IM in 2019