2019  TAX UPDATES :

  • Please review once again the "Tax Paperwork Submission Options" section of this website.

  • When you submit your tax paperwork, please include the "Tax Package Return Preference Form" also located on this website for your use.

  • If you have not already submitted your driver license information, license number, issue date, and expiration date, and that of your spouse or partner, please include that information with your tax paperwork.

DO NOT submit any health care information.  I no longer need Form 1095, etc.  As of the 2019 tax returns, we no longer submit Affordable Health Care Act, (Obamacare) information on the tax returns.

These are the following key changes affecting the 2019 tax returns :

  • Tax rate changes.

  • Charitable and medical deductions.

  • Alimony payments.

  • Child tax credits.

  • Business income.

  • Estate planning changes.

  • Alimony rules change for new divorcees. Beginning in 2019, alimony is no longer a tax deduction for those paying it, nor income for those receiving it. This rule change does not impact prior year divorce documents.
     

  • Medical expense deduction threshold raises to 10%. To deduct medical expenses as an itemized deduction, threshold is now 10 percent of your Adjusted Gross Income (AGI). The previous threshold was 7.5 percent.
     

  • Affordable Care Act (ACA) shared responsibility penalty is gone. The portion of the Affordable Care Act that requires everyone to have health insurance or pay a penalty is now suspended.

All clients should have been receiving emails throughout the Fall of 2019 with specific explanations of the various changes for 2019.  If you did not receive these emails, please let me know.  New clients will receive the updates during the initial consultation.

**** IF YOU HAVE ANY QUESTIONS AT ALL ABOUT ANYTHING RELATED TO YOUR TAX RETURN, PLEASE CONTACT ME PRIOR TO SUBMITTING YOUR PAPERWORK.  ****

201-819-2490 

Email:  danconti1958@gmail.com

 

 464 Walnut Street, Ridgefield, NJ  07657

 

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