Waive Bye Bye To These Tax Deductions In 2018

Everyone's Talkin' Money

Shari Rash

Business, Self-improvement, Education

4.6 • 631 Ratings

🗓️ 17 January 2018

⏱️ 24 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

If you’ve filed your taxes before, or if you're a business owner ,you certainly love all those tax deductions. Why? They help reduce your taxable income and can potentially bump into a lower tax bracket on occasion. BUT…some of those tax deductions we used to love are now gone – they flew out the window on January 1, and who knows if there ever coming back. On This Podcast Episode: Get an understanding of why tax deductions are so popular I'll discuss what homeowners and future homeowners need to know We loved personal exemptions, why did they go away Learn what job related deductions have gone away If you pay or receive alimony payments it's all changed (FYI - For spouses who divorce before 2019, these rules will not affect them, but spouses who divorce after Jan. 1, 2019, the new rules will apply. For divorces that happen before Dec. 31, 2018, spouses who receive alimony payments will need to pay taxes on it and spouses who pay alimony will be able to deduct it.) Links Mentioned: Podcast with Jill Schlesinger Tax bill explained Thanks for Tuning In: Thanks for tuning in to listen to this episode of Millennial Money. Every listen means so much to us. If you’ve enjoyed this episode, please share it on social media using the hashtag #millennialmoneypodcast. Also, please leave an honest review for Millennial Money on iTunes! Ratings and reviews are extremely helpful and much appreciated! You’re awesome! Want More: Shannah on Twitter Shannah on Instagram Disclosure: The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual. To determine which investment(s) and financial strategies may be appropriate for you, consult your financial adviser prior to investing. There is no assurance that the techniques and strategies discussed are suitable for all investors or will yield positive outcomes. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:22.8	entrepreneurs like you. Sign up for your $1 a month trial at Shopify.com slash setup.
0:29.8	Hey, I'm Shauna Compton Game. This is Millennium Money, and today we're talking wave
0:34.7	bye-bye to these tax deductions in 2018.
0:57.4	Millennial Money with Shawna Compton game.
1:01.5	It will expand your brain.
1:10.4	We've all spent more time with family lately.
1:12.3	It can feel like old times.
1:14.2	But your mind is on the future too.
1:16.1	And what you can do to shape it.
1:20.2	At Sandy Spring Bank, we work with clients to help them grow and protect their money.
1:23.2	With wealth management, trust services, and insurance.
1:26.8	So they can enjoy today and ultimately pass along their wealth.
1:27.5	We believe real banking is a conversation.
1:30.0	Let's talk about your dreams.
1:31.9	Visit sandy springbank.com slash wealth.
1:34.6	Wealth and insurance products are not FDIC insured, not guaranteed, and may lose value.
1:39.2	I was having coffee with a friend the other day, and she said to me,
1:44.1	you know what, Shauna, you know what the word
1:45.7	taxes reminds me of? And I'm like, what? And she's like, diets. I hate diets. I hate the word diet.
1:53.2	Apparently her boyfriend has started this new diet for 2018 and literally like went in their pantry
2:00.0	and threw out almost everything that was in
	...

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