2018 TAX LAW CHANGES

The 2018 PERMANENT FUND DIVIDEND is $1,600. This does mean that children will have to pay taxes on their dividend. Children can be included on the parents' return if they only have non W-2 income (the permanent fund, interest on savings accounts and dividends/capital gains on investment accounts). If they have W-2 wages, they do have to file their own return. For help with reporting their income, call or e-mail my office.

Alaska's minimum wage went up to $9.84 an hour effective January 1, 2018. It will be adjusted every year for inflation with the new rate being effective on January 1 of each year.

The STANDARD MILEAGE RATES FOR 2018 went into effect on January 1, 2018:
54.5 cents per mile for business miles driven
18 cents per mile for medical or moving miles driven
14 cents per mile driven for charitable purposes