Accounting Talk

In 2017, the "Tax Cuts and Jobs Act" (TCJA) was signed into law. This is the largest tax reform since 1986.  Most of the changes will become effective in 2018. There are many changes that may effect your personal or business income tax returns.  To list a few ... 

 

Individual Tax Returns:

  • Reductions in income tax rates for most individuals
  • Reductions or eliminations in certain itemized deductions
  • Increases in the standard deductions
  • Changes to certain child and dependent tax incentives
  • Almost doubling the estate tax exemption

 

Business Tax Returns:

  • Reduction to the corporate income tax rate
  • More rapid business write-offs for capital expenditures
  • A new 20% deduction for owners of certain pass-through business entities

 

Due to the size and scope of the tax changes, we are unable to provide a full list of all the changes and necessary information for a complete explanation.  Please contact our office if you would like a copy of our tax summary. 

 

 

One of the neat things about living here in Hendersonville is the opportunity for outdoor adventure. While I’ve lived here over thirty years, I’m still finding hikes that lead me to places that are unforgettable.

Recently, an old high school bud and I climbed to Sam’s Knob, a 6,000 foot peak that’s close to the Shining Rock Wilderness Area. What with a much cooler temperature at that altitude (70 degrees vs. 90!) and the 360 degree view, the summit was well worth reaching! And, as an added summertime bonus, ripe blueberries and blackberries along trailside tasted great! The trail to the summit was a little strenuous, but very doable.

To reach Sam’s Knob, park in the Shining Rock Wilderness Area parking area, off the Blue Ridge Parkway, and follow the signs.