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WILL THIS YEAR’S TAXES LEAVE YOU SCRATCHING YOUR HEAD?


I am a big fan of an app called Flipboard. It is a news aggregator that allows me to get information and perspectives that I might not normally see. Based on my interests, I have access to all kinds of information - which is especially handy given the diverse set of topics that we explore in Office Hours Kennett.


This morning an article came across my feed written by an Associated Press Personal Finance Writer by the name of Sarah Skidmore Sell. The article was entitled, “I owe how much? Americans shocked by impact of new tax law” https://flipboard.com/@flipboard/-i-owe-how-much-americans-shocked-by-imp/f-860a4cdf72%2Fapnews.com


The gist of the article is that many Americans have come to depend on refunds as a method of saving or financing large expenses or vacations or even school tuitions. Changes to the 2018 tax code rules may be poised to throw your refund expectations for a loop. Now here is where you have to ask yourself - “Do you feel confident that you fully understand how these changes will impact your tax liability?

There are new rules in place for personal filings which have been discussed in the media. But how comfortable are you in your understanding of your business filings. If you are like many of us, you are in the midst of gathering your information to hand off to your accountant or plug into one of the tax prep software programs. But if you are like me, you want a little advance knowledge of what to expect before you sign those IRS forms. I don’t like surprises!


February 28th’s Office Hours Kennett presentation by Doug Kook of Bumpers & Company will break down all of the key changes that could impact your expectations. Doug is a veteran of too many years in accounting to mention. He has seen it all and will be prepared to answer your questions. Maybe one of your questions should be: “Do you really know what you think you know? - About taxes that is.


2018 Tax Reform Update @ The Creamery in Kennett Square - 4 to 5pm. Refreshments available! Register Today.



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