Ellerd Business Services

Laguna Hills, Orange County, California



Trump Changes Everything

Our president wants to change our tax regulations, yet again, to what end - well, more taxes I should imagine.

He wants to double our Standard Deduction from (say) $6,000 to $12,000 Single and from $12,000 to $24,000 Married Filing Joint. That sounds good but, Oh yes, he wants to eliminate the personal exemptions, that’s not so good. It means, in order to itemize, you need a minimum of $24,000 in expenses to qualify for the Schedule A (Itemized Deduction Form) and don’t get any exemptions for you or your children. (Not so good.)