Frequently Asked Questions

  • Married Filing Joint – $24,800
  • Head of Household – $18,650
  • Single / Married Filing Separately – $12,400
  • $1,020,000 – and the deduction is limited for total fixed asset purchases over $2,550,000
  • Business – 57.5 cents per mile
  • Charitable – 14 cents per mile
  • Medical / Moving – 17 cents per mile
  • Yes, the IRS requires you to run all bonus checks through your payroll system. If you did not do this and are not sure what to do, give us a call, and we will help you fix it.
  • The Tax Cuts and Jobs Act eliminated all personal exemptions.
  • 100% of qualified new and used assets
  • All earned income below $18,240 will not affect your payment amount.
  • If you are under full retirement age, all earned income over $18,240 will reduce your social security benefit $1 for every $2 earned.
  • In the year you reach full retirement age, all earned income over $48,600 will reduce your social security benefit $1 for every $3.
  • After you reach full retirement age, your social security payments will not be reduced by your earned income, no matter how much money you make.
  • (see: Retirement Planner: Getting Benefits While Working)