Expenses -- The Threshold for deducting medical expenses as an itemized
deduction of Schedule A jumps from 7.5% of your AGI to 10% of your AGI.
Contributions -- The IRA contribution limit has increased to $6,000 per person
and, for those over age 50, the limit goes to $7,000.
Mileage Rates -- The standard mileage rate for business driving goes up to 58¢
per mile in 2019. The rate for medical
travel and military moves is going up 2¢ to 20¢ per mile. The charitable driving mileage rate remains
at 14¢ per mile as fixed by law.
HSA Contribution -- The annual maximum deduction for HSA contributions is now $3,500 for individual coverage and $7,000 for family coverage.
TAX AND COST SAVING OPPORTUNITIES FOR BUSINESSES
The one constant in life is change. The new tax law is definitive evidence of that.
keeping with the theme of change, and making changes for better results, we are
excited to announce an expansion of our capacity to serve you and maximize your
tax savings and business profits.
to the development of new technology we now have access to Proprietary Business
Profit Enhancement Software that will analyze your company to match it with
additional savings available to you that go beyond traditional accounting and
Through these services we can find savings from Work Opportunity tax credits to R&D tax credits to commercial real estate taxes to credit card processing fees.
The use of this Proprietary Software is on a contingent fee basis. If we find any new savings for your company, the fee is based upon a percentage your savings.
invite you to take our Business Profit Enhancement Profiling Survey to
determine your increased profit potential. Call or email me today to make
arrangements to help you increase your bottom line.