Page 26 - AreaNewsletters "Oct'18" issue

EMPLOYMENT & JOB
OPPORTUNITIES
Click to go to section!
IS HIRING
for In-Store Counter Help Must be friendly, helpful, and reliable.
Inquire within at
420 3rd St.
in downtown Castle Rock
Grow your business!
Bring your business cards!
B US I NE S S
Take Advantage
of Lower Tax Rates and Investment Gains!
By Janell Ball, RTRP, Pro Accounting & Tax Services
Under the TCJA, 2018 ordinary tax rates are generally lower than those for 2017. For example, the top rate has been reduced from 39.6% to 37%. (The remaining six rates are 10%, 12%, 22%, 24%, 32%, and 35%.) Also, the top rate now applies to joint lers whose taxable income is over $600,000 (as opposed to $470,700 for 2017). Some taxpayers who were taxed at 39.6% in 2017 may now nd themselves in the 35% tax bracket.
In other good news, the TCJA didn’t change the capital gains rate structure. Therefore, most categories of long-term capital gain are taxed at 0%, 15%, or 20%. The maximum 20% rate applies to joint lers with 2018 taxable income (including long- term gains) above $479,000. Higher- income individuals also can be hit with the 3.8% Net Investment Income Tax (NIIT). The bottom line is that taxpayers falling outside of the top ordinary tax bracket of 37% can be subject to the maximum capital gains rate of 20%.
October 2nd & 16th • 12 noon – 1:00pm
506 Castle Pines Parkway
Guaranty Bank and Starbucks building
For more information, contact: Jayne.friesen@guarantybankco.com • 303-293-5493
Discover the di erence at
Altitude SEO
• #1 Search Engine Optimization Experts • Leaders in Social Media Marketing
• Google Penalty & Hack Removal
As you evaluate investments held in
your taxable brokerage rm accounts,
consider the tax impact of selling ap-
preciated securities (currently worth
more than you paid for them) before
the end of this year. For most taxpay-
ers, the tax rate on long-term capital
gains is still much lower than the rate
on short-term gains. Therefore, it
often makes sense to hold appreciated
securities for at least a year and a day
before selling to qualify for the lower long-term gain tax rate.
e Comprehensive Tax Cuts and Jobs Act (TCJA) Change the way tax is calculated. e IRS is encouraging taxpayers to perform a quick “paycheck checkup” because of these changes to the tax law for 2018.
Pro Accounting & Tax Services
Janell D. Ball, Accountant Castle Rock, CO 80108
(303) 324-8617 Work
(303) 223-3303 Fax jdball65@gmail.com proaccountingtaxservices.com
Also, taxpayers who expect to be subject to a higher capital gain rate after 2018 should consider selling pro table long-term investments in 2018 to take advantage of this year’s rate. The proceeds and tax savings could be used to help fund a tradi- tional IRA (possibly deductible) or Roth IRA to postpone or eliminate future taxes.
Contact me if you need a “paycheck checkup” or any other tax help. Janell Ball, RTRP, Pro Accounting & Tax Services, 303-324-8617
October 2018 • Castle Rock “AreaNewsletters”
26
Help Wanted
Come join us at
1st & 3rd Tuesday of every month