New treatment of alimony under the new tax law.

Southern Cloud Accounting LLC

Pensacola, FL

The Tax Cuts and Jobs Act (the Act) has made changes to the tax treatment of alimony that you will be interested in. These changes take effect for divorce agreements and legal separation agreements executed after 2018.

Current rules. Under the current rules, an individual who pays alimony or separate maintenance may […]

By |2018-01-30T09:09:20+00:00January 30th, 2018|Uncategorized|

The much discussed 20% deduction for “qualified business income” under the 2017 Tax Cut and Jobs Act.

Southern Cloud Accounting LLC, Pensacola, Florida

2017 Tax Cut and Jobs Act – New 20% deduction for qualified business (pass-through) income under new tax law.

I am writing to inform you of a significant new tax deduction taking effect in 2018 under the new tax law, the Tax Cuts and Jobs Act (the Act). It should […]

By |2018-01-10T15:10:58+00:00January 10th, 2018|Uncategorized|

Overview of 2017 Tax Cuts and Jobs Act

Dear Client,

The recently enacted Tax Cuts and Jobs Act (TCJA) is a sweeping tax package. Here’s a look at some of the more important elements of the new law that have an impact on individuals. Unless otherwise noted, the changes are effective for tax years beginning in 2018 through 2025.

  • Tax rates. The new law […]
By |2018-01-09T15:22:27+00:00January 9th, 2018|Uncategorized|