Tax Changes Coming January 1st - Spokane, North Idaho News & Weather KHQ.com

Tax Changes Coming January 1st

Posted: Updated:
KHQ.COM - Come January 1, at the start of the new year, we can expect changes to our taxes.

While we have come to expect these changes every year, this year, a lot of the changes are associated with the Affordable Care Act.

Ryan Flint, a senior accountant at CliftonLarsonAllen, explained that people with higher incomes, in the range of $200,000-$300,000 per year, can expect reduced itemized deductions.

"Average tax payers aren't going to notice a lot of tax changes," explained Flint. "The only difference is going to be healthcare. If you don't have health insurance it's going to be an additional tax on your 1040 that wasn't on there last year."

Flint stressed that even if your taxes aren't changing dramatically, there is no better time than right now - at the start of the new year - to take a good look at your finances.

"It's always good to step back and reflect," said Flint. "Look back at what you can do to change, and help yourself going forward."
  • Most Popular StoriesMost Popular StoriesMore>>

  • Family's Car Catches Fire Inside Lion Enclosure

    Family's Car Catches Fire Inside Lion Enclosure

    Sunday, April 20 2014 2:57 PM EDT2014-04-20 18:57:30 GMT
    (NBC)- A British family was forced to flee their car inside a lion enclosure, after the vehicle caught fire. Other visitors shot amateur footage of the car on fire. Helen Clements, who was in the car with her two children, said they were caught between wanting to escape the burning car while evading the lions.>>
    (NBC)- A British family was forced to flee their car inside a lion enclosure, after the vehicle caught fire. Other visitors shot amateur footage of the car on fire. Helen Clements, who was in the car with her two children, said they were caught between wanting to escape the burning car while evading the lions.
    >>
  • BEAUTIFUL HOMES: Top 10 Most Expensive Homes For Sale In CDA

    BEAUTIFUL HOMES: Top 10 Most Expensive Homes For Sale In CDA

    Tuesday, March 25 2014 9:20 AM EDT2014-03-25 13:20:34 GMT
    KHQ.COM - When it comes to shopping around for a house, it's always fun to dream. We did a search for some of the most expensive homes for sale right now in the Coeur d' Alene area.>>
    KHQ.COM - When it comes to shopping around for a house, it's always fun to dream. We did a search for some of the most expensive homes for sale right now in the Coeur d' Alene area.>>
  • Fallen Hero Banner Project Denied From Marching In Seafair Torchlight Parade

    Fallen Hero Banner Project Denied From Marching In Seafair Torchlight Parade

    Sunday, April 20 2014 3:27 PM EDT2014-04-20 19:27:07 GMT
    SPOKANE, Wash. - This year the Fallen Hero Banner project, which honors men and women from Washington who have died serving our country, applied to march in the Seafair Torchlight Parade in Seattle. However, the organization was denied by the parade selection committee via email saying, "the Fallen Hero Banner Project was not the right fit for the Torchlight Parade.">>
    SPOKANE, Wash. - This year the Fallen Hero Banner project, which honors men and women from Washington who have died serving our country, applied to march in the Seafair Torchlight Parade in Seattle. However, the organization was denied by the parade selection committee via email saying, "the Fallen Hero Banner Project was not the right fit for the Torchlight Parade.">>
  • Top Stories from KHQTop StoriesMore>>

  • Fallen Hero Banner Project Denied From Marching In Seafair Torchlight Parade

    Fallen Hero Banner Project Denied From Marching In Seafair Torchlight Parade

    Sunday, April 20 2014 3:27 PM EDT2014-04-20 19:27:07 GMT
    SPOKANE, Wash. - This year the Fallen Hero Banner project, which honors men and women from Washington who have died serving our country, applied to march in the Seafair Torchlight Parade in Seattle. However, the organization was denied by the parade selection committee via email saying, "the Fallen Hero Banner Project was not the right fit for the Torchlight Parade.">>
    SPOKANE, Wash. - This year the Fallen Hero Banner project, which honors men and women from Washington who have died serving our country, applied to march in the Seafair Torchlight Parade in Seattle. However, the organization was denied by the parade selection committee via email saying, "the Fallen Hero Banner Project was not the right fit for the Torchlight Parade.">>
  • Utah Man Arrested In Child Enticement Sting In Idaho

    Utah Man Arrested In Child Enticement Sting In Idaho

    Sunday, April 20 2014 3:26 PM EDT2014-04-20 19:26:36 GMT
    CALDWELL, Idaho (AP) - Idaho prosecutors have charged a Utah man with felony child enticement after he allegedly arranged to meet an undercover officer representing himself online as a 15-year-old girl.Allen B. Johnson was arrested Friday afternoon at the Caldwell restaurant where authorities said the 48-year-old Provo man was to meet who he thought was the teenager.>>
    CALDWELL, Idaho (AP) - Idaho prosecutors have charged a Utah man with felony child enticement after he allegedly arranged to meet an undercover officer representing himself online as a 15-year-old girl.Allen B. Johnson was arrested Friday afternoon at the Caldwell restaurant where authorities said the 48-year-old Provo man was to meet who he thought was the teenager.>>
  • General Mills Scraps Controversial New Legal Terms

    General Mills Scraps Controversial New Legal Terms

    Sunday, April 20 2014 3:20 PM EDT2014-04-20 19:20:37 GMT
    BC-US--General Mills-Legal TermsGeneral Mills scraps controversial new legal termsEds: APNewsNow. Will be updated.NEW YORK (AP) - General Mills is scrapping a controversial plan to strip consumers of their right to sue the food company.The company, which owns Cheerios, Progresso and Yoplait, had posted a notice on its website notifying visitors that using the company's websites or engaging with it online in a variety of other ways meant they would have to give up their right to sue.>>
    BC-US--General Mills-Legal TermsGeneral Mills scraps controversial new legal termsEds: APNewsNow. Will be updated.NEW YORK (AP) - General Mills is scrapping a controversial plan to strip consumers of their right to sue the food company.The company, which owns Cheerios, Progresso and Yoplait, had posted a notice on its website notifying visitors that using the company's websites or engaging with it online in a variety of other ways meant they would have to give up their right to sue.>>