updated on:
December 22, 2018

ICS Worksheets
Please download any and all helpful worksheets from the links on our home page.

Beware of Scams
Again, we are joining the Internal Revenue Service in warning against scams. Criminals are posing as IRS agents to trick victims out of their money and to get victim's personal information. The IRS will never initiate a phone call, a text or an e-mail.

New rules will change tax returns
For millions of Americans new rules will change tax returns starting with 2018 taxes. Standard deductions increased but many other popular deductions were limited or eliminated.

For tax years 2018 through 2025, the standard deduction will be $12,000 for single filers and $24,000 for married couples filing jointly. The law also slightly increases the higher standard deduction for the elderly, the blind and persons with a disability.

Among the deductions and credits that were eliminated: moving expenses, investment and advisory fees, W2 employee work expenses, travel expenses and job search expenses.

In 2019, alimony deduction for the payer is eliminated, and the recipient is no longer taxed. As of December 31, 2018 - new or modified payments will be treated as in 2019.

Tax situations remaining unchanged include: capital gains rules for the sale of a primary residence, deductions for student loan interest, treatment of tuition waivers, adoption assistance, investment interest, teacher expenses and credit for electric car purchases.

State and local tax deductions are capped at $10,000. This includes property and state income taxes paid.

The tax changes also includes:
-Increasing child/dependent tax credit from $1,000 to $2,000 per qualifying person,
-Expanding 529 education savings to include up to $10,000 in K-12 tuition per beneficiary per year, and
-Eliminating alimony deductions for payer and no longer taxing the recipient for 2019, as well as new and modified payments after December 31, 2018.

Consider "bunching into a particular year" charitable donations and/or medical expenses.

Save More on Taxes
Consider increasing your contributions to tax-deferred retirement accounts and/or a health savings account - consider deferring capital gains by investing in an "opportunity zone fund."

Consider "bunching into a particular year" charitable donations and/or medical expenses.

Be Vigilant
Keep personal data and information safe. Use strong passwords, and avoid using unsecured public Wi-Fi locations. Never open unknown links or attachments.

We know you're busy...
Feel free to e-mail, fax or mail your tax information.

Important reminders:
Please remember
We must have all your tax information by March 20th, in order to guarantee an April 15th filing.

The IRS encourages:
Electronic filing of tax returns, direct deposit of refunds, and direct withdrawals of amounts owed. This eliminates lost returns, reduces errors, and speeds up refunds. To have your return E-filed and your refunds direct deposited into your bank account we'll need the following information:

  • (1) name of bank
  • (2) routing number of bank
  • (3) your account number

Have a Beautiful 2019!