In his recent article in Accounting Today, Michael Cohn shares the list developed by TaxAudit, a tax audit defense service, that predicts which taxpayers will be hardest hit by the Tax Cuts & Jobs Act. Among those expected to be paying more in taxes this year are homeowners with high loan balances or nonqualified home equity debt, itemizers whose combined state and local taxes amount to more than $10,000, and parents whose dependents are 17 years of age and older. Our new blog features this article.

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Your tax advisor at Sharrard, McGee & Co., PA is happy to help you determine how the TCJA will affect your individual and business tax liability. Call us at (336) 884-0410 in High Point and (336) 272-9777 in Greensboro.