​​​​​WOOD TAX AND BUSINESS SERVICE
      TAXES, BOOKKEEPING AND PAYROLL SERVICES SERVING KAUFMAN AND     TERRELL TEXAS
​
1601 S. Washington St.
Kaufman, TX 75142
​​​Office     469-632-1881 
Mobile    214-763-3721
​Mon-Sat  10am-7:00pm
or ​Anytime by Appointment

TAX LAW CHANGES 2018



Important Dates:


  • Begin filing your tax returns electronically January 2019
  • Your federal tax return due date is April 16, 2019
  • Your available extended due date is October 15, 2019


​

2017 INFLATION ADJUSTMENTS

Return

Personal Exemption:
No longer exists
Standard Deduction:$12,000  (Single)

$18,000    (Head of Household)

$24,000  (Married filing jointly)

$12,000 (Married filing separately)
Estate Exclusion:$11,210,000
Gift Exclusion:
$14,000 (per donee)
Standard Mileage Rates:$0.54.5   (Business use)

$0.18   (Medical use)

$0.14   (Charitable use)
Child Tax Creditup to $2,000 per child