December 2017 Tax Reform Act Changes
The Tax Cut and Jobs Act (TCJA) nearly doubled standard deductions so that many individuals who formerly itemized may now find it benificial to take the standard deduction.
In addition the TCJA made the following changes to itemized deductions:
The entire article will be found in the "Business Finance & Shopping the Internet" column under the sub-topic: Income Taxes, or by clicking here: Business, Finance...
- Limit on overall itemized deductions suspended.
- Deduction for state and local income, sales and property taxes limited to $10,000.
- New dollar limit on total qualified residence loan balance.
- Deduction for home equity interest modified.
- Limit for charitable contributions modified.
- Deduction for casualty and theft losses modified.
- Miscellaneous itemized deductions suspended.
H/AREA Board Member Kundan Patel continues to update The President's Report column. The column can be found in the right hand column or by clicking here: President's Report.
H/AREA Board Member Jim Stevenson supplies the current Money Matters column written by Jim Terwilliger. The column can be found in the right hand column or by clicking here: Money Matters. Jim also offers cartoons and captions. The column can be found in the right hand column or by clicking here: Cartoons .
H/AREA Board Member Kundan Patel continues to update the column called Honeywell Financials. The column can be found in the right hand column or by clicking here: Honeywell Financials.
H/AREA Board Member Otto Frank continues to update the column called Did You Know. The column can be found in the right hand column or by clicking here: Did You Know.
Keep up on the latest news releases and articles on Honeywell and its employees by clicking here: Honeywell in the News.
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The Home Page has been set up as a path or link to information. By double clicking the mouse on any underlined item, you will be transferred to another page containing additional information.
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We're adding more names to our Internet Directory Listing. Click on Directory to see Who's Who. You will need a User ID and Password to enter the Directory. The User ID and Password are published in the H/AREA Newsletter, print edition. If you are a Honeywell or AlliedSignal or affiliated retiree, click on Directory Application to add your name to the directory.
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Changes for the month of December are in Brown. We hope that this will help you to spot changes to the page.
Tell us what you think of the H/AREA Home Page by clicking here: Comments. We'd love to hear from you.
This home page is for all Honeywell, AlliedSignal, Bendix Corporation, and Signal Company retirees, their friends and associates.
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We wish to thank Tony Abbate, Wayne Anderson, Reed Belden, Jack Belles, Stuart Bollen, Bill Ficken, Otto Frank, Jim Himich, Aaron Jackson, Ted Largman, Larry Loeffler, Paul Makus, Chuck Mathias, Maurice Monti, Erwin Naumann, Irwin Norman, Samy Palanisamy, Marty Paskoff, Kundan Patel, John Robertson, Les Schlanger, Paul Shellenberger, George Siegel, Jim Stevenson, Fred Vodde,and Steve Wolfson for their important contributions.
Perry L. Anderson
James S. Himich, Jr.
Perry L. Anderson
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