Medical expense deductions & the new 10% expense threshold

There is good news this year on the medical front. Medical expenses may be expensive, but uncovered medical expenses are deductible when you itemize your medical deductions, to cut back on the cost. Before you get too excited, along with the good news comes the bad.

In the past you could deduct medical expenses that exceeded 7.5% of your AGI, however, now the threshold has gone up to 10%. This means your expenses have to be higher for you to take advantage of this deduction or if you are over 65, you won’t have to worry about this change.

Often overlooked medical expenses

• Travel costs – Mileage rate deduction recently increased to 24 cents per mile
• Long term care insurance premiums – Policies must qualify
• Medical costs prescribed by your doctor – This includes home improvements and medical equipment
• Admission and travel to a medical conference for a chronic illness – You, your spouse, or one of your dependents have to suffer from the illness
• Alcohol and drug abuse treatments – Also, includes approved stop smoking programs
• Costs for service animals
• Weight loss programs – Must be medically necessary, not just to improve your appearance. Health club dues count too.
• Wigs for cancer patients
• Recliner for cardiac patients
• Reconstructive breast surgery for breast cancer patients
• Laser surgery for corrective vision
• Orthopedic shoes for sufferers of foot conditions
• Cosmetic surgery for those with deformities
• Remedial reading for dyslexic children
• Attendants for blind or deaf students

These medical expenses apply for your spouse and dependents too. Your parents can fall under this category if you provide them with more than half of their support. Additionally, if your dependent died during the year, you can still claim their expenses.

As long as you plan carefully when paying medical expenses, you will be able to save money during tax time. When you file with TurboTax discount, they will ask all of the right questions to make sure you get all of the deductions that you qualify for and the biggest refund. The free TurboTax refund calculator allows you to know the amount of money you should be getting back in your tax refund.

A Bigger Child Tax Credit: Changes by IRS

One of the largest changes for The Tax Cuts and Jobs Act of 2018 has to do with the changes to the child tax credit.  Child tax credits are available for low- and moderate-income families to help offset the costs of children, and for qualifying filers, this can mean significant cost savings when filing your taxes.

We now have a new federal tax plan and one of the biggest benefits to the Trump Tax changes is that the child tax credit has been changed from a non-refundable credit to giving you up to $1400 refundable credit. The child tax credit changes are significant because this is a new opportunity for many Americans to potentially put some hard-earned money back in their pockets. 

There have been changes to both the qualifications and credit amounts for filers, and the intent of this article is to help summarize those changes that are applicable.

When do the new child tax credit changes take effect?

The new child tax credit changes take effect immediately for your 2018 filed returns.  As long as the child was not older than 17 by the end of the filing year, they will qualify as part of the credit.  With the new child tax changes, you can take advantage of the broader eligibility requirements, and the credit amount per child has now doubled!

The child tax changes from the Tax Cuts and Jobs Act of 2018 are scheduled to remain in effect until 2025.

How much is the child tax credit? The child tax credit has increased from $1000 to $2000 per child (maximum of 3) in 2018 for filers.  This is a significant increase.  In addition, the qualifications for the child tax credit have broadened, meaning more families can now qualify that previously could not.   There is also a $300 credit for non-child dependents available to help offset the burden of dependents older than the maximum age of 17 for the child tax credit.

How much do you get back?

Since you are utilizing a tax credit, you essentially are reducing your tax bill directly for each child.  Comparing this to a deduction where you are lowering your taxable income only, a credit is a much more advantageous position for filers. 

In addition, since the 2018 tax laws changed the child tax credit to be refundable, this means you can get some refund money back depending on your situation.  The total amount you can get back from the child tax credit depends on your specific tax situation, and the amount you get back is capped at 15% your income.

Eligibility requirements for the child tax credit

There are complicated rules associated with eligibility for the child tax credit, but luckily the IRS publishes a ton of information online to help you determine if you qualify.  Some of the basic requirements are that you must be the child’s legal guardian, they must be under the age of 17 during the tax year filed and a legal resident of the United States, and you must be providing them financial assistance and claiming them as a dependent.

There also cannot be multiple claims for the child tax credit on a single individual or child. You may also be able to get the child tax credit with no income.

Claiming a child on taxes that is not yours

You can claim the child tax credit for individuals that are not your direct born children, but you must be related in some fashion.  If you are the child’s legal guardian, such as an Aunt, Uncle, Adopting Parent, Foster Child, Step Child, or sibling.  So long as you are providing financial support for the child and they are a dependent, you are likely eligible to claim the child tax credit.

TAGMOON – An Innovative Token that Aims to Monetize the Social Media NFT

The popularity of cryptocurrencies is increasing day by day. Currently, the market cap of Bitcoin is equal to 1.149 trillion USD. You may wonder why this trend is getting more and more common. This is because cryptocurrencies are not only a new medium of money, but they’re also some kind of assets that can be traded for fiat currencies and other cryptocurrencies.

In this blog post we are going to talk about a new crypto project called ” TAGMOON,” what does it have to offer, and why its token value (called TAGMOON) is increasing rapidly.

TAGMOON is a new breed of a crypto token with social media NFTs at its heart. Due to the trilogy effect of Tagmoon, token holders can boost their value in the following three ways:1-Increase Market Value 2- Eco-Friendly Mining 3-Earn Binance Reward.

TAGMOON uses an alternative method for mining to ensure that the transaction does not harm the environment. An environment-friendly approach is used to process and secure transactions. A roughly 5.5-percent share of each transaction taking place on their smart contract will go to TAGMOON stakeholders. The deflationary effect of TAGMOON goes a long way toward reducing the total number of TMOON tokens in circulation, causing tokens to become scarce and raising the value of the coin.

On the TAGProtocol, TagMoon is the fastest growing community and their smart contract is backed by 10,000 NFT tags. Many crypto experts and gurus believe TAGMOON has the potential to grow with its unique idea. 

It’s incredibly simple to get started with TAGMOON. There is no long and complicated process involved in buying TAGMOON tokens. When it comes to TMOON tokenomics, TMOON has a total supply of 100,000,000,000, with 1-percent liquidity and 10-percent staking at all times. The 30% circulating supply is preserved to be distributed during the presale. You can visit their official website to know more about TAGMOON in detail.

Reasons Why Crypto and Blockchain Projects are Getting Popular

People are gaining more interest in cryptocurrencies. Many countries around the world that have not been familiar with digital currency are now studying blockchain technology and starting to accept it. learn more about TAGMOON by visiting TAGMOON.org

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https://t.me/ctagmoon
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@Ctagmoon

You Can Sell Your Home Without A Capital Gains Tax

It feels great to get a high price for the sale of your home, but watch out: The IRS may want a piece of the action. That’s because capital gains on real estate are taxable sometimes. What many people do not know is that a large portion of homeowners who sell their homes are able to do so without paying the IRS a penny.

There are some requirements that have to be met for you to live the good life after selling your home. The property has to be your principal residence (you live in it). If it is an investment property, you will have to follow the normal capital gains on home sale rules. Also, you have to live in the residence for two of five years before selling it. (This is also a sneaky way of saying you can only sell a home once every two years at the minimum). The good news is, if your gain does not exceed the limit, you don’t have to file anything with the IRS.

Once you decide you are eligible to sell and meet the capital gains exclusion rule, you have to do some math so you avoid pulling out your checkbook after you sell. First, keep in mind you have to think about more than the money that you received during the sale. It is important, but other numbers play a factor too. You have to consider your gain. It is what decides whether you will have a tax bill.

To get to your gain amount, establish your basis in the home. (Usually this is what you paid for the residence and the capital improvements that you made). Compare the basis amount to what you received from the sale (excluding commissions and other expenses). This number provides you with the capital gain on the sale. Usually, you will find that you got some profit, but it isn’t large enough for you to have to pay taxes on it.

It’s important to note that improvements increase your basis, so a smaller portion of the selling price is considered a gain. The American Relief Act is 20% for higher income taxpayers and 15% for many individuals and 0% for some sellers. Even if you are unable to meet all of the tests, it does not mean that you will not get any sort of tax break at all.

If you are selling your home because of special conditions, you are eligible for a prorated tax-free gain. In this case, you would calculate the fractional amount of time that the two-year use test was met. Learn more at Americantaxservice.org

Eco-friendly Investment Funds.

Interested people and companies who wish to invest their money in developing environmentally-friendly technology would surely see plenty of option on the internet. The public has truly become more aware about the environment these days. With this particular recent trend comes plenty of effort and you will find really plenty of opportunities for anyone to get into information and technology that properly deal with natural resources.

One excellent example of this would be the advanced scientific developments that utilize modern technology to enhance the performance of plants without affecting nature in the negative way. Plant-related technology developments are truly made for the advantage of both man and nature. Nowadays offshore banks for sale, we've one-of-a-kind methods that significantly increase the quantity of trees through special purpose trees that may grow at a fast pace. Firms that rely on tree-related enterprise will certainly find these options to be advantageous and this will even result in increased earnings in your part.

Continuous public concern for environmental solutions is totally the motivation behind the idea for green investment funds. Many companies are now putting high priority over options which are less hazardous to the environment - plus more inventors and investors are making moves to produce it feasible for this to be a long-term effort. Just take a look at Toyota's recent Primus release because is clearly an intended go on to reduce carbon emissions among vehicles. Obviously, it's gained plenty of positive response not only among all of their many buyers but additionally from critics.

Eco-friendly companies welcome those people who are interested to place their green investment funds with them. The majority of the time, the very first requirement for this could be for the business and the individual to get as much information about another and see if they have exactly the same values and purposes. Along with this, the available opportunities for green investment funds should really be presented so the terms-and-conditions, the cost and a great many other matters can be well-evaluated. This is definitely most important to ensure that both parties will have the ability to clearly see the way the green investment funds can end up being mutually very theraputic for them.

Interested to know more about green investment funds In that case, then turn to the web! The net is filled with plenty of details and updated information in terms of this matter. Just visit the right websites and you'll surely see many companies that you can contact so you can get started with this.

Working With Backlinks As a Web Marketing Solution

In case you're still genuinely beginning in the web advertising business as a way to make an online presence for your items or administrations then the expression "backlinks" might be genuinely new to you. One thing you should know however is that the production of SEO backlinks is viewed as a most extreme need with regards to web showcasing. Hence it would unquestionably be to your greatest advantage to figure out how to get backlinks you need and its importance to web crawler rankings.

Google backlinks - otherwise called one way connects is a connection that web advertisers post on web journals or other high PR sites. Quality backlinks are called as such on the grounds that it basically returns clients to an alternate site that they are advancing. Building backlinks includes leaving your sites' URL or anchor text on sites or important sites. It's not as straightforward as it might appear however. All together for the cycle to be successful, you'll need to make high PR backlinks from set up and legitimate destinations applicable to your specialty market.

Presently as a web advertiser, you ought to be genuinely acquainted with the utilization of well known web search tools like Google and MSN. Web search tools every assign Pr or Page Ranks relying upon how trustworthy a particular site is. Destinations that have countless backlinks from locales or web journals applicable to their specialty market are seen to be more legitimate and hence, make certain to accomplish a higher PR for their picked catchphrases. This makes procedures to get backlinks a pivotal angle for any web advertiser hoping to get the monetary eventual fate of their individual online organizations.

Answers for high PR backlinks

Honestly, SEO backlinks is definitely not a basic errand to handle. It includes in addition to other things Golden Organic Backlinks, drawn-out and predictable work. In any case, Google backlinks are without at question probably the best and demonstrated answers for traffic age and a higher PR which will absolutely profit whatever business you are running on the web.

Presently there are a few techniques to make the high PR backlinks you need and it would unquestionably be to your greatest advantage to use your web advertising endeavors with them. Assuming you're basically dumbfounded on the most proficient method to make quality backlinks, here several plans to get you moving.

For one thing, you might need to ponder having great articles composed and have them submitted to article accommodation destinations like EzineArticles. Such article catalogs empower you to leave quality backlinks in asset boxes which is an extraordinary answer for building backlinks while simultaneously, captivating your perusers with intriguing and quality substance about your items and administrations.

You can likewise take a stab at turning upward online journals that component content pertinent to your specialty market and fascinating remarks alongside your backlinks. Doing as such won't just permit you to get backlinks yet in addition increment web traffic by potentially charming the consideration of individuals who end up being following those web journals.

Finally, you can likewise present your site to online indexes. A large number of them offer such administrations liberated from cost and give you intends to post proportional or one way SEO backlinks.

Presently the arrangements referenced are quite a couple assets that each web advertiser can take advantage of to use their web showcasing endeavors with high PR backlinks. There are positively significantly more that you can investigate as you tackle the subject. Numerous web advertisers discover it to be a monotonous and problematic errand. Stick with it however and you'll wind up with the absolute generally demonstrated and stable method for producing web traffic and achieving a high PR for your sites.

The actual Feeling associated with Artwork as well as Innovative Individuals

Craftsmanship is generally considered the vacation, something which eliminates all of us through real life, from everything is happening in the world. Nevertheless, really the simple truth is frequently shown in to workmanship. Several professionals possess believed back again on the function as well as ended up looking back again from that which was heading in the world at that time the actual workmanship had been created.

These types of imbuements from the reality aren't usually recognized along with all of those other globe however the imagine what are you doing within the craftsman's existence at that time. These types of effects about the workmanship could be extremely distinctive or even very off traffic as well as now and then shifting. Several professionals choose to provide words and phrases along with presently there thing of beauty, these types of statements are in occasions identity, every now and then politics and not carried out inside a comparable property. Several statements tend to be extreme as well as marvelous, as well as holler in order to the whole world. Various events the actual declaration could be unpretentious as well as every now and then unnoticeable in order to the great majority however apparent in order to those who issue.

This particular just about all occurs about the reasons which a lot of time workmanship is really a vacation for that craftsman! Innovative people often allow their own emotions operate all of them custom pet photo, that 's the reason with regard to craftsmen their own feelings, whether or not these people end up being emotions concerning the globe usually or just their very own actuality, are usually created lower in certain abnormal ways!

Work with truly creative people is actually powered in what is going on close to all of them, what are you doing our planet or even precisely what are you doing within their life. A substantial quantity of all of us have a gander in a image through among the amazing craftsmen and do not worth the sensation which will possess eliminated to the thing of beauty.

I am not really a truly innovative person but instead We sometimes sit down viewing canvas thinking about that which was dealing with the actual craftsmen thoughts once they had been piece of art the actual image prior to me personally. Had been these people sitting foreseeing what's going to market or even had been these people merely taking the way in which points tend to be as well as permitting their own emotions to consider all of them. Creative masterpieces through those who place their own emotions to their function usually remain the actual test of your time and therefore are appreciated through how old they are in addition to a much more age range following all of them!

They are my personal viewpoints as well as generate an income observe thing of beauty. Several people may vary along with my personal viewpoints plus they are permitted to perform as a result, that's the quality associated with workmanship, this effects numerous people contrastingly as well as everyone views this within their personal particular method.