Affordable tax filing options for everyone
We provide Tax Preparation services for both individuals and small businesses. Most of our clients come and have their returns prepared while they wait.
Drop-off your documents – We file our returns electronically – Quick returns – Debit & Credit payments accepted
Our tax pro’s can fill out and file your 1040, 1040A, 1040EZ, 1041. We also offer fill and filing services for 1041, 1065, 1120, and 1120S.
Specialized filing options tailored for your individual needs
We have experience with Trusts, Estates, C corps, S corps, and LLC’s and partnerships.
We are staffed year around because you don’t just need tax help during tax season. So if you ever need help we are here.
2018 Tax Law Changes
Standard Deduction Amount Increases
Applies to all filing statuses
Single and Married Filing Separately: $12,000
Married Filing Jointly: $24,000
Head of Household: $18,000
Personal Exemption Has Been Eliminated
Taxpayers can no longer claim the $4,050 personal exemption for each of their dependents.
Child Tax Credit Has Been Increased
The Child Tax Credit increases from $1,000 to $2,000. The tax reform bill also creates a new $500 credit for non-child dependents.
Taxpayers can only deduct up to $10,000 in state and local income taxes. This is a new cap that has been applied.
Amount of Mortgage Interest that can be Deducted Decreased
If you purchase a home in 2018 you can only deduct interest up to $750,000 in mortgage debt. Interest deduction on home equity loans has been eliminated.
ACA Individual Mandate Repealed
Individuals that are without healthcare coverage for the year will not have to pay tax penalties.
2018 Tax Brackets
| Tax Rate | Individual | Married Filing Separate | Head of Household | Married Filing Joint |
|---|---|---|---|---|
| 10% | $0 – $9,525 | $0 – $9,525 | $0 – $13,600 | $0 – $19,050 |
| 12% | $9,526 – $38,700 | $9,526 – $38,700 | $13,601 – $51,800 | $19,051 – $77,400 |
| 22% | $38,701 – $82,500 | $38,701 – $82,500 | $51,801 – $82,500 | $77,401 – $165,000 |
| 24% | $82,501 – $157,500 | $82,501 – $157,500 | $82,501 – $157,500 | $165,001 – $315,000 |
| 32% | $157,501 – $200,000 | $157,501 – $200,000 | $157,501 – $200,000 | $315,001 – $400,000 |
| 35% | $200,001 – $500,000 | $200,001 – $300,000 | $200,001 – $500,000 | $400,001 – $600,000 |
| 37% | over $500,000 | over $300,000 | over $500,000 | over $600,000 |
Our team of professionals are always here to help
Local and open year around. Get in touch with us or stop on by our office.
Phone: (269) 342-0211
Address:
5659 W. Michigan Ave
Kalamazoo, MI 49009
Get Directions
Fax: (269) 372-2691
Email: rwalden@lockwoodtaxcenter.com
Business Hours:
Monday through Friday 9:00 am – 4:30 pm