Understanding the New Tax Laws

  • When: Monday, December 3, 2018, 1 p.m. to 5 p.m.
  • Where: Prescott Public Library
  • Cost: Not available
  • Website: Visit
  • Age limit: All ages
  • Categories: Community

The Tax Cuts and Jobs Act passed by Congress in 2017 will take effect beginning with the tax returns for 2018, and remain in place until December 31, 2025.  In our discussion, we will begin with the changes to standard deduction allowances, personal and dependency exemptions, child tax credit, revisions to the tax rate brackets and more.  In our overview of itemized deductions, we will focus on: the deductibility limitation on state and local income and property taxes, the reduced allowance for personal residence mortgage interest and the changes in charitable contribution allowances. After working 14 years for IRS in Audit and Taxpayer Service, Jack Wood became an Enrolled Agent. He then worked for 15 years with a tax law firm in Providence, RI, which focused on tax representation. In 1999, Jack relocated to Prescott, AZ and opened Tax Strategies Southwest, where he helps clients resolve tax disputes and unmanageable tax debt issues.

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