Frequently Asked Questions (FAQ)
This is where you should answer the most common questions prospective customers might have. It’s a good idea to cover things like your return policy, product warranty info, shipping and returns, etc. Check out the examples below.
What’s will be the biggest effect of tax reform on my taxes as a family?
- The law raises the standard deduction to $24,000 for married couples filing jointly in 2018 (from $13,000 under current law), to $12,000 for single filers (from $6,500), and to $18,000 for heads of household (from $9,550). These changes expire after 2025.
- No personal expemption. The law suspends the personal exemption, which is currently set at $4,150 in 2018, through 2025.
- The child tax credit has doubled to $2,000 for children under 17. It's also now available, in full, to more people. The entire credit can be claimed by single parents who make up to $200,000, and married couples who make up to $400,000.
- Taxpayers may now claim a $500 temporary credit for non-child dependents. This can apply to a number of people adults support, such as children over age 17, elderly parents or adult children with a disability.
- The deduction for student loan interest, which is up to $2,500 per year, is still in place.
- The deduction for medical expenses wasn't cut. In fact, it's been expanded for two years. In that time, filers can deduct medical expenses that add up to more than 7.5% of adjusted gross income. In the past, the threshold for most Americans was 10% of adjusted gross income.
Do you have customer service?
Of course! Our friendly and knowledgeable customer services reps are available to answer your questions 24/7/365.