Tax Credits and Standard Deductions

The Tax Cuts and Jobs Act (H.R. 1) was signed by President Trump on December 22, 2017. With it, many deductions, tax credits and tax exemptions have changed. Households may be seeing a difference in their tax refund this coming year, both positively and negatively. Depending on your specific lifestyle – whether you have many children, care for an elderly person or pay alimony, you are affected by this new federal tax plan. Changes in Tax Deductions The Tax Cuts and Jobs Act doubles the s...Read More »

Tax Reform Updates to the Tax Bill

Days before the holidays President Trump signed the Tax Cuts and Jobs Act (H.R. 1), which marks the biggest tax reform in 30 years. This federal law affects all cities in the United States and many of the provisions went into effect on January 1, 2018. It is important to understand not only how this affects you, but also to what degree your tax return might change during tax filing season. Of course, before the final Act was presented to the President for his signature, Congress went back and fo...Read More »

Paramount Tax Now Offering Financial and Tax Franchises across the US

For the first time, Paramount Tax is offering franchises. Let us make our success into your success! Why Paramount? No strong, national CPA firm currently handles tax preparations done by big name tax preparers. Paramount Tax wants to fill the void currently handled by numerous small CPA firms, many of which need organization and are unable to compete with the big box tax preparers. We’re confident that by providing the kind of expert financial advice, increased visibility and effective...Read More »

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