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Tax Cuts and Jobs Act

On Friday, December 22, 2017, the “Tax Cuts and Jobs Act” was signed into law by President Trump. Most of these provisions go into law January 1, 2018. We have put together a side-by-side comparison of current law and the “Tax Cuts and Jobs Act” changes. There are numerous tax planning issues facing both individuals and business owners.

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Tax Deductions for Uber and Lyft Drivers

Now that Uber and Lyft are here in Key West, they will need local drivers. These drivers will be able to take certain tax deductions based on being an Uber driver. Some of the more common ones are:

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Hurricane Irma Tax Relief

H.R. 3823, the “Disaster Tax Relief . . . Act of 2017” gives tax relief to victims of Hurricane Irma. Here are some of the ways that this Act does this.

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2017 Charitable Contributions

Some recent tax deduction changes make 2017 a great year for charitable giving. Here are ways to donate that also give you a tax deduction.

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