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What's this?

I was fortunate to get the 20% pass through deduction for my business

income and that made an enormous difference.

I have friends who itemized Federal just to take advantage of 529 deductions for their Virginia taxes even though it cost them a bit on the Federal return. I bet charitable deductions will increase going forward - folks that will be close to the itemization limit might as well donate enough to get there.

(In response to this post by Hokie CPA)

Posted: 04/04/2019 at 4:42PM

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Current Thread:

Got taxes back from the accountant. Much better than expected. -- vt90 04/04/2019 3:48PM

Hey 90, me too! ** -- BRVT 04/05/2019 08:08AM

She's worth the money! ** -- vt90 04/05/2019 08:29AM

A dream to work with compared to my old accountant ** -- BRVT 04/05/2019 09:27AM

Ditto. ** -- Nortazhokie 04/04/2019 6:41PM

Lots of folks believing the tax changes screwed the little guy while giving -- Hokie CPA 04/04/2019 4:21PM

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In 2026, the law is supposed to sunset back to where it was for 2017. -- Hokie CPA 04/05/2019 12:02PM

That's not the 1% I wanted to be part of ** -- HokieMacDaddy 04/04/2019 10:54PM

Thought I heard they just expanded that to 80% -- Hokie360 04/04/2019 8:14PM

Yep - the story all along was it was only corporations and 'the rich' ... -- vt90 04/04/2019 4:28PM

No, the story was where the bulk of the money was going, not who was seeing -- hucareshokiesrul 04/05/2019 12:55PM

Oh, no... there's still a MAJOR problem with addin a trillion to the debt -- Hokie CPA 04/05/2019 3:48PM

Congrats. Wish I could say the same -- Burke Hokie 04/04/2019 4:21PM

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You are a good man... many wouldn’t try different permutations! Thanks! ** -- DonHo-kieHi 04/04/2019 8:30PM

I'm getting screwed, blued, and tattooed on state return ** -- TomTurkey 04/04/2019 4:43PM

I was fortunate to get the 20% pass through deduction for my business -- vt90 04/04/2019 4:42PM

Umm.... You can deduct 529 deductions in Virginia if you use the standard. ** -- Hokie CPA 04/04/2019 4:45PM

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