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2019 Federal Tax Changes

April 24, 2019


Below are some of the federal provisions that will go into effect or be changing in 2019.

Provisions that go Into Effect Beginning in 2019:

  • Alimony – For divorce settlements that are finalized in 2019 and beyond
    • Alimony and separate maintenance payments are not deductible by the payor spouse.
    • Alimony and separate maintenance payments are no longer included in income of surviving spouse.
  • ACA Individual Penalty no longer applies. This means that individuals that do not have health insurance for all or part of 2019 will no longer be subject to a penalty.

Changing or Inflation Adjusted Provisions in 2019:

  • Medical Expense Threshold on Schedule A
    • 10% of AGI for all taxpayers beginning in 2019
  • Standard Deduction
    • MFJ: $24,400
    • Single: $12,200
    • Head of Household: $18,350
  • Federal Mileage Rates
    • 58 cents per mile – Business
    • 20 cents per mile – Medical and moving
    • 14 cents per mile – Charity
  • Retirement Contribution Limits
    • IRAs - $6,000 ($7,000 for taxpayers over 50)
    • 401(k), 403(b) or 457 plans - $19,000 ($25,000 for taxpayers over 50)

Recent Tax Updates

Tax Preparer Security Awareness
June 19, 2019

2019 Federal Tax Changes
April 24, 2019

When a Rental Activity Can Be Included as Qualified Business Income
March 19, 2019

Safe Harbor Rule for Autos that Claim Bonus Depreciation
February 27, 2019

2018 Federal Return and Taxpayer Expectations
January 30, 2019

Reminder of 2018 Itemized Deduction Changes
January 16, 2019

Additional Updates
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