Taxes - Belfast Area Chamber of Commerce

The need-to-know information about taxes (and tax cuts!) for members in Maine.

PASS-THROUGH BUSINESSES – 20% DEDUCTION

Following Tax Reform, the IRS has updated information regarding the new 20% deduction for pass-through businesses (aka Section 199A deduction or the deduction for qualified business income). More at www.irs.gov/taxreform.

PAYCHECK CHECKUP FOR TAXPAYERS WHO ITEMIZE

Given changes in tax laws, people who’ve itemized deductions on past tax returns should do a “paycheck checkup” using the updated IRS Withholding Calculator at www.irs.gov/individuals/irs-withholding-calculator.

TAX CUTS AND JOBS ACT: A COMPARISON FOR BUSINESSES

The IRS is promoting a new side by side document posted to IRS.gov that compares the old and new tax law for business owners.

https://www.irs.gov/newsroom/tax-cuts-and-jobs-act-a-comparison-for-businesses

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2018 BELFAST BAY AND BEYOND MAGAZINE

Where to eat, play, stay and just hang out. A great resource for finding out what’s happening and what’s special about visiting and living in Waldo County. It’s all here in the 2018 Belfast The Bay and Beyond magazine—the official publication of the Belfast Area Chamber of Commerce—

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