The Newsroom
Financial and Accounting Updates and Information from Maggart
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From the Monthly Newsletter...
The TCJA Effect: Qualified Residence Interest
The Tax Cuts and Jobs Act (TCJA) made a significant impact — both directly and indirectly — on the deductibility of various types of interest expense for individuals. One area affected is qualified residence interest. Two Ways About It The TCJA affects interest on residential loans in two ways. First, by nearly doubling the standard …
Every Business Owner Needs an Exit Strategy
As a business owner, you have to keep your eye on your company’s income and expenses and applicable tax breaks. But you also must look out for your own financial future. And that includes creating an exit strategy. Buy-Sell Agreement When a business has more than one owner, a buy-sell agreement can be a powerful …
Do You Know Your Tax Bracket?
Although the Tax Cuts and Jobs Act (TCJA) generally reduced individual tax rates through 2025, there’s no guarantee you’ll receive a refund or lower tax bill. Some taxpayers have actually seen their taxes go up because of reductions or eliminations of certain tax breaks. For this reason, it’s important to know your bracket. Some single …
