Moore Bookkeeping

Knowing how to work with the numbers in a company’s financial statements is an essential skill for stock investors. The meaningful interpretation and analysis of balance sheets, income statements, and cash flow statements to discern a company’s investment qualities is the basis for smart investment choices. However, the diversity of financial reporting requires that we first become familiar with certain financial statement characteristics before focusing on individual corporate financials. In this article, we’ll show you what the financial statements have to offer and how to use them to your advantage.

article from Investopedia, written by Richard Loth…read more here.

Photo by Miesha Moriniere on Pexels.com

The new year is approaching, and I am always trying to figure out a way to be more productive this time of year. I came across something called “The Bullet Journal”, and I dove neck deep into it. For people like me who have about 100 things going on at any given moment, it’s a method for keeping track of all of it…plus it allows me to track things I’d like to do if I ever get any free time.

The basic information: https://bulletjournal.com

For those more artistically inclined, there are many websites and YouTube videos on making this organizer prettier, but at its most basic level, it’s a seriously powerful tool for keeping track, planning, and getting things done.

If you’re considering making some New Year’s Resolutions in 2019, take a look at this tracking method. The Bullet Journal might be your solution, too!

1. Joint Filers: standard deduction of $24,000
2. Single filers: standard deduction $12,000
3. Head of household filer: standard deduction $18,000
4. No personal exemptions
5. Child tax credit $2,000 per qualifying child under 17
6. Mortgage Interest Deduction: Applies to mortgage debt up to $750,000 on mortgages after 12/31/17. Previous mortgages grandfathered in. (itemizers only)
7. Charitable contributions: allowable up to 60% of AGI (itemizers only)
8. Medical expenses: deductible after 7.5% of AGI (itemizers only)
9. State and local taxes: Income, sales and property taxes deductible to $10,000 max (itemizers only)
10. Home Equity interest no longer deductible. (itemizers only)
11. Casualty and theft losses (except those attributable to a federally declared disaster) (itemizers only)
12. Unreimbursed employee expenses no longer deductible. (itemizers only)
13. Tax preparation expenses no longer deductible. (itemizers only)
14. Other miscellaneous deductions previously subject to the 2% AGI cap no longer deductible. (itemizers only)
15. Moving expenses no longer deductible. (itemizers only)
16. Employer-subsidized parking and transportation reimbursement no longer deductible. (itemizers only)
17. College Expenses: Lifetime Learning Credit and Student Loan Interest Deduction stay the same. However, 529 Plan money can now be used for private school, tutoring for K-12, and other levels of education.
18. Affordable Care Act – in 2019 tax year, no penalty for lack of insurance coverage; 2018 still has penalty
19. Capital Gains–Short-term: capital gains taxed as ordinary income (affected by new income tax table)
20. Capital Gains—Long term: (see chart)

The Joint Committee on Taxation estimates that 94% of households will claim the standard deduction in 2018, up from 70% in 2017.

Next time…corporate and business tax changes.

No warranty or representation, express or implied, is made by Moore Bookkeeping, nor does Moore Bookkeeping accept any liability with respect to the information and data set forth herein. Distribution hereof does not constitute legal, tax, accounting, investment or other professional advice. Recipients should consult their professional advisor prior to acting on the information set forth herein.

The IRS is working on implementing the Tax Cuts and Jobs Act (TCJA). This major tax legislation will affect individuals, businesses, tax exempt and government entities.

Read more…https://www.irs.gov/tax-reform

Just ready a great article by the Taxgirl. Here’s the beginning of it…be sure to click the link and read it all!

Ready to file your tax return? Here are 10 quick facts about the upcoming tax season that you need to know:

1. Tax season opens on January 23, 2017. Taxpayers who e-file can submit returns to their software provider or tax professional before that date, but the returns will not be accepted by IRS until the systems open. More than four out of five taxpayers are expected to e-file their return either on their own or with the help of a tax professional.

2. Taxpayers have a few extra days to file their 2016 returns this year. The due date is April 18, 2017, and not April 15, 2017. That’s because April 15, 2017, falls on a Saturday which would normally result in a move to the following Monday (April 17, 2017). However, this year, Emancipation Day falls on Monday, April 17. Since that’s a legal holiday in the District of Columbia, the tax filing deadline will be pushed ahead for all individual taxpayers to Tuesday, April 18, 2017.

3. FreeFile is now open. The program, available through the Internal Revenue Service (IRS) website, partners with commercial partners to provide free filing software for about 100 million taxpayers with incomes of $64,000 or less. Seven in ten of the nation’s taxpayers are eligible for IRS FreeFile.

Ready the rest at: http://www.forbes.com/sites/kellyphillipserb/2017/01/15/10-quick-facts-about-the-upcoming-tax-season-that-you-need-to-know/#3792bcad3750

All this great stuff is part of a national public service campaign sponsored by the American Institute of CPAs (AICPA) and The Advertising Council. The goal of the campaign is to encourage and help Americans aged 25 to 34 to take control of their personal finances.

Check out Feed the Pig at : AICPA – FEED THE PIG

Prince Rogers Nelson, better known to the world as Prince, died on April 21, 2016, at his home at Paisley Park. According to probate documents filed by his sister, Tyka Nelson, Prince died without a will. What will happen to his assets? And could it happen to you?

Read More: Sister Says Prince Died Without A Will: What It Means And Why You Shouldn’t Let It Happen To You – Forbes