HOW TO CHOOSE A TAX PREPARER - IT’S OKAY TO BE PICKY
Brent Hunsberger, money writer for The Oregonian/OregonLive, wrote this great article a few years ago in his weekly column “It’s Only Money.” He also wrote another article that describes the differences between different types of tax preparers. A pretty informative and helpful article by an educated unbiased writer.
*Note that while this article mostly states facts, the article's description of itemized deductions and tangential statement that most of them are being eliminated are inaccurate; moving expenses and alimony are not itemized deductions, they are subtractions for adjusted gross income. Also, most itemized deductions are not being eliminated, but as the standard deduction is almost doubled, less people will be able to take advantage of them.
NEW 2018 W-4'S AVAILABLE AS OF 2/28/18
The new W-4, based on the 2018 tax structure, is now available. You can get a fillable copy of the form at the IRS website (https://www.irs.gov/pub/irs-pdf/fw4.pdf).
W-2 employees, please fill this out to the best of your ability (just follow the instructions as listed), and give it to your HR representative at work, or your payroll company.
OREGON RESPONDS TO 2018 CHANGES, IRS MAY COUNTERACT
Among the tax changes for 2018, the IRS has limited the amount of local tax deductions to $10,000 for all types of state and local personal taxes (most commonly income and property are taken). Oregon, New York, and other states have responded by offering a credit, which can be purchased, allowing them to deduct the money from their purchase, on their federal taxes, as a charitable deduction and subsequently taking a credit on their state taxes to offset the purchase. For more information, see The Oregonian/OregonLive’s article, by Mike Rogoway.