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Tuesday October 23, 2018

Our News
Thank you for your interest in The DuPage Foundation. Our hope is to serve you and your family with helpful information.
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Savvy Living
I am considering making changes to my Medicare coverage during the open-enrollment period. Can you recommend some free...
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Washington News
In IR-2018-2003, the IRS reminded small business owners that the Tax Cuts and Jobs Act (TCJA) includes many changes that may reduce or change their taxes. While there are approximately two months left in the calendar year, many small businesses may still benefit from making changes before December 31. Qualified Business Income Deduction - The 20% deduction for qualified business income (QBI) will be available for 2018 federal income tax returns. The Sec. 199A deduction is generally available to pass-through businesses. More information is available through the Sec. 199A frequently asked questions (FAQs) on www.IRS.gov. There are complex phaseout rules for business owners with higher-income levels. 100% Expensing - Most depreciable assets may be deducted if they are placed in service during 2018. The 100% depreciation deduction generally is applicable for machinery, equipment, computers, appliances and furniture with a recovery period of 20 years or less. Entertainment and Meals - Many of the prior deductions for business expenses related to entertainment, amusement or recreation were reduced or eliminated. There is still a 50% deduction for the cost of business meals if all IRS...
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Personal Planner
"I am an heir of the decedent and here is his will." Potential Heir Business Owner passed away on April 5, 1976, with an...
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