What provisions in the new tax law could affect you and your family? The Tax Cuts and Jobs Act takes effect in 2018. This $1.5 trillion tax-reduction package fundamentally changes the individual and business tax landscape. Join Cornell Cooperative Extension of Steuben County and H&H Financial Group for a free informational workshop called 2018 Tax Changes: How will you be affected by the Tax Cuts and Jobs Act? on Thursday, January 31 from 6:00 - 8:00 p.m. at the Southeast Steuben County Library, 300 Nasser Civic Center Plaza, Corning. Some of the tax changes are permanent, while others expire after 2025. Whether you will pay more or less in income taxes depends on a variety of factors unique to your situation. So the more you know about the tax law provisions, the better prepared you will be. Are you going to get your share of taxpayer savings?
During this educational presentation we will focus on:
· Changes to marginal income tax brackets and the alternative minimum tax
· Limits on common itemized deductions, such as mortgage interest and state and local taxes
· Increases in standard deduction amounts
· Elimination of personal exemptions
· Child tax credit rules
· Federal estate and gift tax provisions
· Some provisions affecting business owners
When you attend the seminar, you will receive a 20-page, information-packed workbook with essential information from the presentation. Perhaps best of all, you will receive a complimentary consultation offered to all seminar participants. The workshop is free, but registration is required. Please call Cornell Cooperative Extension at 607-664-2300 to reserve a space. For more information on this and related topics, visit www.putknowledgetowork.org.