H&R Block 2018 + Tax Pro Prep.
HR Block 2018 and Tax Law Changes
H&R Block is a very diversified company in the tax preparation industry that offers a wide range of tax services, from full service professional tax preparation to free simple online self prepared tax return filing.
Most taxpayers can easily use one of the H&R Block 2018 online versions, the desktop download, or CD installation versions.
Should you ever need assistance, one of HR Block's local offices can be a lifeline of tax support as well as their online facts and questions databases.
H&R Block boasts the fact that they have a retail office within five miles of most Americans that collectively employ over 100,000 tax professionals.
The H&R Block at Home product line is backed by nearly 60 years of tax preparation experience. H&R Block states that they have prepared over 550 million income tax returns and helped their clients receive over $50 billion in tax refund money last year. H&R Block, can easily help you create accurate federal and state returns stress-free from the comfort of your own home.
HR Block 2018 Online Tax Filing Editions will be ready long before needed for the new years tax law changes.
2018 Tax Changes
Capital Gains Tax Changes
Several important changes were made in regards to the treatment of capital gains, and sunset provisions were eliminated.
- Qualified Dividends: income received is now taxed at the same rate as long-term capital gains.
- Income Thresholds: individuals in 10% and 15% tax brackets will now pay 0% on eligible dividends as well as most capital gains.
- Tax Rate: individuals in the 25%, 33%, and 35% income tax brackets will now pay 15% on capital gains, while taxpayers that are in the 39.6% bracket must pay 20%.
- Unmarried individuals with income over $200,000 and Married couples filing jointly with income over $250,000 will also be required to pay a 3.8% Medicare surcharge tax on investment income; increasing their effective capital gains rate to 23.8% (20% + 3.8%)
Social Security and Medicare
As was the case in the past, all wages earned in a given year are taxed at the 1.45% rate for Medicare. for 2018 earned wages paid in excess of $200,000 for Unmarried filers and in excess of $250,000 for Married filers will be subject to an extra 0.9% tax when filing taxes by April 2018.
Social Security tax will remain at 6.20%, while the wage limit, or Social Security maximum, increases from $113,700 to $117,000. The Cost of Living Adjustment (COLA) was 1.5% in 2014, which raises the SSI limit to $2,642 per month.
Proposed changes in lower-of-cost-or-market inventory would
end the practice of writing down the taxable value of inventories
to reflect a drop in price or damage to the goods. Many small
businesses are going to have to declare hundreds of thousands
of dollars of income regardless of how much they actually make.
Tax changes are no doubt the hardest issues to keep up on for new filing years. Fortunately the work and research is always one for you if you use HR Block 2018 Tax Software Products.
H&R Block 2018 tax preparation services also provide one-on-one support as an add-on to their software. No need to visit one of their offices to receive professional support, you can access it through HR Block live where you can work with a tax professional via video conference, telephone or instant chat to get the guidance you need. You can also access H&R Block services from your iPhone, iPad or Android device.
Rest assured that the 2018 H&R Block tax product line is a great choice to help you easily prepare your return without stress and confusion. It's a choice that stays on top of satisfied consumer surveys year after year.