Proposed federal tax regulations may forbid a federal tax deduction for any donations made which also qualify for state tax credits, if the credit is more than 15% of the total donated. Recent changes in federal tax laws, have increased the standard deduction allowed when filing taxes for 2018, which will also reduce the number of taxpayers who will itemize their deductions. The new standard deduction amounts for taxpayers are:
Does your child have a cell phone? The odds are the answer is “Yes.” Statistics show that 56 percent of children 8-12 have a cell phone. It’s difficult to think of a product or technology, designed for adults, that was so quickly and ubiquitously co-opted by kids. Of course, Mom and Dad have to buy the phones and pay the bills, but cell phones have become a necessity in many kids’ lives.