✷✡ ➋☛☞ ❖✌✄ ✆❱ ✆ ✫ ✌❆✥ ✆ ✍✝☛❨ ☞ ✆❆✞✁
❲ ✁✂ ✄✁❆❨✱ ❆☎✆✝✞ ✟✵✱ ✠✵✟✾
BUSINESS & AG LIFE
Elgin FBLA brings home awards
✱✲✳✴✵✶✷✸ ✹✉✻✉✼✳✽✉✾✷✸✳✾✾✿✳❀❁✳✼✾ ❂❃❄❅✳✼✷❇❀❇✲❀❊✻✳✼❋
✘✙✚✛✜✢✣✦ ✙✧★✩✪✫✬ ✭✮✯✰
The Elgin Future Busi-
ness Leaders of America
chapter recently compet-
ed at the Blue Mountain
Regional Skills Confer-
ence, held at Eastern
Oregon University in La
Grande.
Below are the awards
students earned at the
conference:
Accounting I: Ian Smith 10th,
Cody Hays 5th
Advertising: Ian Adams 8th
Ag Business: Cody Hays 6th
Computer Problem Solving:
Jacob Webb 5th
Cyber Security: Malachi Brazil
10th, Kenneth Terry 7th, Jacob
Webb 6th, Noble Craig 1st
Economics: Kenneth Terry 9th
Insurance and Risk Manage-
ment: Jordan Volle 6th
Introduction to Business Com-
munication: Jocelyn Palmer 8th,
Shelby Sannar 4th
Introduction to FBLA: Jocelyn
Palmer 8th, Maddison Harvey
3rd
Introduction to Public Speak-
ing: Shelby Sannar 3rd
Securities and Investments:
Ethyn Jones 2nd
IRS publication helps small businesses, self-employed
understand what’s new in the Tax Cuts and Jobs Act
➍➎➏➐➑➎➒➓ ➔➐→➐➎➣➐ ↔➐➑→↕➙➐
WASHINGTON, D.C. —
According to a press release,
the Internal Revenue Ser-
vice wants business owners
and the self-employed to
know that a publication on
IRS.gov has information
they can use to learn which
recent tax-law changes
impact their bottom line.
Publication 5318, “Tax
Reform: What’s New
for Your Business,” is a
12-page electronic docu-
ment. Pub. 5318 provides a
general overview of many
of the Tax Cuts and Jobs
Act changes enacted in De-
cember 2017 that impact
business taxes.
➛➜➝➞➟➠➡➢➟➤➥ ➦➧➨➩
➟➥➠➞➜➫➭➯ ➯➭➠➢➟➤➥➯ ➤➥➲
➳
➳
➳
➳
➳
➳
➵➸➺➻➼➽➾➚ ➪➸➶➼➹➾➶➶
Income Deduction
Depreciation
Business-related
losses
Business-related
exclusions and de-
ductions
Business credits
S corporations
P✖✞✠✞✗
Continued from Page 1B
✡ ☛
✡
✡
Ï ✃❒✃ ➱➺Ï ➾➱ Ý ✃ ✃Þ➾➱➶
a mini-session for an
engagement may charge
around $200 or $250,
compared with $600 for
ereas a a regular session. The
n may ❒➱➺➚➾✃Þ ☞ ✌ ✃➸ ✍ ➻➻ ✡ ➺Ñ➾ ➺
shorter shooting time and
My- get fewer images, but you
might pay about a third of
phers the usual price.
Ô➭➢ ➡
● ➟➫➭Õ ➡➥Ô➞➭
Keep your options open
” Myers ➬➾Ò✃➹➚ ❒ ✡ ➾ ➽➱➶❒ ❐➾Ý Ï ✡ ✃ -
uthwest ❒✃ ☛ ➱➺Ï ✡ ➾➱➶ Ò✃➸ ➽➹➚Ø
spring
“The photographers
popular Ý ✡ ✃ ➮➺➹ ➺Þ✃➱➚ ❒✃ ➺➚Ñ➾➱ -
use the tise are usually the ones
who are charging more
money,” said Maddie
Eisenhart, a retired wed-
ding photographer and
✡
✎ ➮➾➱ ➺❒
➮ ➼➾❐ ➱➾Ñ➾➹➸➾ ✃
the website “A Practical
❉✞✟✠✞❖
Farm provisions
Miscellaneous pro-
visions
A few key provisions
include:
➳
➳
➘➜➡➞➟➴➟➭➫ ➝➜➯➟➥➭➯➯
➟➥➠➤➷➭ ➫➭➫➜➠➢➟➤➥
Many individuals,
including owners of sole
proprietorships, partner-
ships and S corporations
➺➹➚ ➬➾➹➾➽➮➼➺➱➼➾➶ ✃❐ ❒➱➸➶❒➶
and estates, may be en-
titled to a deduction of up
❒✃ ❮❰ Ï➾➱➮➾➹❒ ✃❐ Ð➸➺➻➼➽➾➚
business income, plus
up to 20 percent of their
Ð➸➺➻➼➽➾➚ ➱➾➺➻ ➾➶❒➺❒➾ ➼➹Ñ➾➶❒ -
ment trust dividends and
Ð➸➺➻➼➽➾➚ Ï➸➬➻➼➮➻Ò ❒➱➺➚➾➚
partnership income. Gen-
erally, this deduction is
the lesser of the combined
QBI, REIT dividend and
PTP income amounts, or
20 percent of taxable in-
come minus the taxpayer’s
net capital gain. Claimed
on Form 1040, Line 9, the
new deduction is gener-
ally available to eligible
taxpayers whose 2018
taxable incomes fall below
Wedding.”
“The people who you
see a lot are generally go-
ing to be a little bit more
expensive,” she said.
“There are a lot of wed-
ding photographers who
are really talented who
maybe aren’t the most
skilled at blogging or get-
ting their web presence
out there.”
Eisenhart recommends
relying on word of mouth
❒✃ ➽➹➚ ❒ ✡ ➾➶➾ Ï ✡ ✃❒✃ ☛ ➱➺ -
phers. Or look at pho-
tos from weddings and
other events on wedding
websites or social media.
✏✡ ➾➹ Ò✃➸ ➽➹➚ ➺ Ï ✡ ✃❒✃ ☛ -
raphy style you like, get
the name of the photog-
rapher.
Myers said you can
✑
➻➼ ➾➻Ò ➽➹➚ ➚➼➶➮✃➸➹❒➶ ➼❐ Ò✃➸
pick “friendly dates” when
photographers have better
$315,000 for joint returns
and $157,500 for other
taxpayers. The deduction
may also be available for
those whose incomes are
above these levels but ad-
ditional limitations may
apply.
➭Ó➛➭➥➯➟➥Ô
➫➭➛Õ➭➠➟➡➝➞➭ ➝➜➯➟➥➭➯➯
➡➯➯➭➢➯
A taxpayer may elect
to expense the cost of
any section 179 property
and deduct it in the year
the property is placed
into service. The new law
increased the maximum
deduction from $500,000
to $1 million. It also
increased the phase-out
threshold from $2 million
to $2.5 million. After 2018,
the $1 million and $2.5
million thresholds will be
➺➚Ö➸➶❒➾➚ ❐✃➱ ➼➹×➺❒➼✃➹Ø
➢➭➷➛➤Õ➡ÕÙ ➨ÚÚ
➛➭Õ➠➭➥➢ ➭Ó➛➭➥➯➟➥Ô
Û➝➤➥➜➯ ➫➭➛Õ➭➠➟➡➢➟➤➥Ü
➪➸➶➼➹➾➶➶➾➶ ➮➺➹ Ý➱➼❒➾ ✃Þ
most depreciable busi-
ness assets in the year they
placed them in service.
availability.
For example, since
Saturdays are the busi-
est days for weddings,
weekday ceremonies are
usually more appealing
for photographers.
“If you’re getting mar-
ried on a Thursday,” My-
ers said. “You will see us
fall over ourselves to try to
shoot your wedding.”
❚
✒
●❚ ➟➢➭
✓ ✃➹ ✍ ❒ ❐✃➱ ☛ ➾❒ ❒ ✡ ➾ ➽➹➾
✑ ➹✃Ý ❒ ✡ ➾ ➽➹➺➻ Ï➱➼➮➾ ➺➹➚
exactly what you’re going
to get. Eisenhart said to
always have a contract
and to read it in its en-
tirety.
She also advised look-
ing through the photog-
rapher’s gallery. For a
✥ êúìîòëñ÷ ✥ ã
②
✺✁✆ ü ✺✝✺ ü ✂✝✐✁ ãì çäëíæ
òìæãììëíèçî ❞ ûäëíæ÷âãä÷ ✥ ã
ãïçì éêç òçéëíæçò éìçëéü
éêìãúûê
äë ç ëè ëååãíèéäçèéó âëææ
âãäåæçäçèé éêç âëìç éêëé
ïíîíéî ëìç îâêçòúæçò ðãì
åëéíçèéî ìçâçíïç ðìãä éêçíì
èëéúìãåëéêíâ âëìç ãì
æçëìè äãìç ëýãúé êçì åìëâü
åìíäëìñ âëìç åìãïíòçìó éêç
ëâúåúèâéúìç ëî èççòçò
éíâçó ðççî ëèò åæëèîó ïíîíé
ôìëèòç õãèòç öãîåíéëæ
éêçìçëðéçì÷
åãìéëæ
âëè åúìâêëîç éêç ìçâãäü
éêçíì åìíäëìñ âëìç åìãïíòü
äçèòçò åìãòúâéî éêëé
çìî ëèò îåçâíëæíîéîó ëèò ù
îêç êëî åìçîâìíýçò íè éêç
æãïç éêëé éêçìç íî îúâê ë
åëéíçèé î éìçëéäçèé åæëè÷
äëèñ òíððçìçèé ýìëèòî ãð
þëææçñóÿ îêç îëíò÷
êãäçãåëéêíâ ëèò èëéúìëæ
öçì ýæçèò ãð
êçëæéê åìãòúâéîó éêç ãèçî
❍ ëîéçìè
❲ çîéçìè äçòíâíèç íî
åëìéíâúæëìæñ çððçâéíïç íè
ëòòìçîîíèû êçëæéê íîîúçî
②
éêëé äëñ ýç ãïçìæãã çò íè
äãìç ýìíçð äçòíâëæ ïíîíéî
ãì éêëé íäåëâé ë åçìîãè ãè
♠
äãìç éêëè ãèç æçïçæ ýãòñó
äíèò ëèò îåíìíé÷
❆ èç
åëéíçèé ïíîíé éñåíü
âëææñ íèâæúòçî é ã íèíéíëæ
✥ êç ✤ ìîé
✐✁ äíèúéçî æãèû òúìíèû
êíâê éíäç ❤ çììãè íææ
éë ② ç éêç åëéíçèé t î êçëæéê
ëååãíèéäçèéî÷
íî
êíîéãìñó åçìðãìä ë åêñîíâëæ
❡
ç ëä ëèò òíîâúîî éêç íîü
îúçî éêëé ëíæ éêç åëéíçèé÷
✥ êç îçâãèò ëååãíèéü
äçèéó ëýãúé ë çç ② æëéçìó
íî ✂✁ äíèúéçî æãèûó ëèò íè
éêëé éíäç ❤ çììãè íææ ûã
❣✐❥❦
②❧♠♥ ♦♣
q r♥❦qst
✉❧✈❦ ✇❧✐①
♠③ ④❧♥ q
⑤♥❦q⑥ ⑥✐✈❦⑦
⑧⑧⑧⑨ ⑩❶❷❸ ❹❷❺❻❻❷❼ ❽❾❿❻❺ ➀➁➂➃ ➄ ➅➆➈➉➅➊➋➉➅➅➌➌
✡
✑ ☞ ✔ ➺➹ Ò✃➸ ➻➼ ✕ ➼❒
➶ ✃✃❒ ❒➺ ➾
the number of hours the
photographer is on site
✡
☞
✡ ✡ ☞
Ï➼➮❒➸➱➾➶ ➺❐❒➾➱ ❒ ➾ ➶ ✃✃❒
“Be sure to inquire
about what treatments
the photographer will
add to the images,” Andie
Fowler, editor for The
Bash, a party planning
site, said in an email. “All
of these extras can add up
quickly.”
ÚÛÜÝ ÛÞ ßÝààÝá âãÝä
➇❘❙❚ ❯❱❲❳❨ ❩❲ ❬❭ ❪❲❳❱
❫❲❴❵❫ ❛❵❱❚❭❱❜ ❵❝❭❞❩❡❢
●☎✆✝ ✞✟✠✡☛☞✠✌
✍✎✏✑ ✒✎✓✔✕ ✖✗✘✙✚
✛✜✢✣ ✤✖✥✦✧★✩✪✫★✖✬✭✮ ✒✖ ✩✯✖★✰✭✮ ✫✯ ✱✲✳✴✣
✵✶✷✸✹✺✻✸✼✽✾✸✿✻❀✿❁✸✵❀✼❂❃✹❄✻
❤❅❅❆❇❈❉❉❊❋❍■❅❇❃❏❊❑▲❍❑❇❃▼◆▲❉❋❖P❊▼◗▲❊■
÷òìæãììëíèçî÷âãä÷
åæç ãèéÝ è êÚèä
ë ìíîïðïñòóô òõöí÷øõùô
ë úøóó íö ûï÷ ø üø÷ðô÷ö ü÷òôõýóþ ÿô òô ✁
ë úï ô÷ø ✂ ô þïí ùøõ ùíöîïðò ✄ ô îï ðôôî þïí÷ õôôýö
➆➇➈➈ ➉➊➌➍➎➏➐➍➑➏➌➌ ➒➓➔➇→➣
↔↕➙ ➛↕ ➜↕➝➞ ➟➠➡ ➢↕➙ ➙➜↕ ➛➠➥➙ ➦➧➝➡↕ ➠➡➙ ➠➨ ➟➠➡➩ ➫➭➥➡➩➧➭➯↕ ➯➠➦↕➩➧➢↕➲
➳➵➸➺➻➼➽➺➼➾➚➸➪➶➶➹➘➴➷➼➸➽➾➬➚➺➸➮➪➘➱➪➻➘➴✃➾➺➪➱➪➼➹➪❐➹➵ ➼➚ ➪➹➹ ➸➺➪➺➵➸➴❒➵➵➘➾➬➻➪❮➵➚➺❰➾➻Ï➵➺➪➼➹➸➴
Ð➚➸➬➻➪➚➽➵➼➸➬➚Ï➵➻Ñ➻➼➺➺➵➚❐➘Ò➪➻➮➵➻➸Ð➚➸➬➻➪➚➽➵ÓÔ➽Õ➪➚❮➵➪➚Ï➾➺Õ➵➻➪Ö➹➼➪➺➵Ï➼➚➸➬➻➪➚➽➵
➽➾➮➶➪➚➼➵➸➴×➼➸➼➺❰➪➻➮➵➻➸➴➽➾➮❰➾➻➪➽➾➮➶➹➵➺➵➹➼➸➺➼➚❮➾❰➽➾➮➶➪➚➼➵➸➴✃➾➺➪➹➹ ➼➚➸➬➻➵➻➸➪➻➵
➪➬➺Õ➾➻➼Ø➵Ï➺➾➶➻➾➱➼Ï➵➼➚➸➬➻➪➚➽➵➼➚ ➪➹➹ ➸➺➪➺➵➸➴Ù➾➱➵➻➪❮➵➼➸ ➚➾➺➪➱➪➼➹➪❐➹➵ ➼➚ ➪➹➹ ➸➺➪➺➵➸➴
t
✥ êãúûê îêç ìçâãääçèòî
êçìç íè éêç ôìëèòç õãèòç
ëèò
à➺áÏ➺Ò➾➱➶ ➮➺➹ ➽➹➚ ➺➹ -
swers to questions, forms
and instructions and
easy-to-use tools online at
IRS.gov. No appointment
required and no waiting
on hold.
êçìç åëéíçèéî
âëìç éêç åëéíçèéî ûçé ðìãä
ìãýúîé äçòíâëæ âãääúèíéñ
remain the same.
wedding, look at a com-
plete album. You don’t
want to waste your money
on a photographer who
only manages to take a
few good pictures for the
whole event.
Ask questions such as:
How many hours will the
What will be done to the
ðãì éêç åëéíçèé÷ õçéúìè
øù æãïç éã îúååæçäçèé éêç
For most taxpayers, a
net operating loss aris-
ing in tax years ending
after Dec. 31, 2017, can
only be carried forward.
Certain NOLs of farming
businesses and insur-
ance companies (other
than life insurance) can
still be carried back two
years. The deduction of
NOLs arising in tax years
beginning after Dec. 31,
2017, is limited to 80
❒✃ ➮➸❒ ➚✃Ý➹ ✃➹ ❒ ➾ Ï➱➼➮➾
print. Before you agree
to a photographer or pay
anything, make sure you
percent of taxable income,
determined without any
NOL deduction. This 80
percent limitation does
not apply to insurance
companies (other than
life insurance). Rules for
existing or pre-2018 NOLs
➞➤➯➯➭➯
➯➭➭ ➢ ➭ ➛Õ➟➠➭ ➟➥ ➝➞➡➠
äçèé åæëè îêç êëî âìçëéçò
❤ çììãè úîçî ëè ãèæíèç
➝➜➯➟➥➭➯➯ßÕ➭➞➡➢➭➫
➡➥➫
Continued from Page 1B
ëèò æãâëæ âæíèíâî÷
The 100-percent depre-
ciation deduction (bonus
depreciation) gener-
ally applies to depreciable
business assets and certain
other property, such as
machinery, equipment,
computers, appliances
and furniture. The deduc-
tion is generally allowable
for qualifying property
acquired and placed in ser-
vice after Sept. 27, 2017,
and before Jan. 1, 2023.
For more information, see
Publication 946, How to
Depreciate Property.
îêç úîçî äãîé ãðéçè ëìç
❙ çìãñëæó ✄ èòë ëèò ôçèçîü
éìë åìãòúâéî÷
❙ êç êëî ëæîã èçé ãì ② çò
✇ ëéúìç t î s ëèéìñ ëèò
õçò ❘ ìãîî ☎ ìúû ❙ éãìçó
íéê
êçìç êçì åëéíçèéî äëñ
åúìâêëîç âçìéëíè ìçâãäü
äçèòçò åìãòúâéî ðãì éêçíì
êçëæéê âëìç÷
✥ êãúûê ❤ çììãè íî èãé
❚✓✔✕ ✖✗✘ ✙✚✛✚✜ ✕✢✘✣✕ ✤✢ ✦✧✘✘✖ ✚✙✘✗✧✓★✩ ✪✬✭✤✮✕
✔✙✙✘✛✤✢✔✙✧★ ✪✬✭✤✮✕ ✔✐✣✜✘✛✔✙✧★ ❚✘✧✚✢✓✚✜✯ ✰✤✬✬✚②➤ ✤✙✖
✪✧✲✚✙✕✚➤ ✢✤✳✚ ✢✓✚ ✭✘✜✜✮ ✘✴✴ ✮✘✗✜ ✕✓✘✗✬✖✚✜✕★
✶ ✸✹✺✺ ✻✹✼✽✿ ❀❁ ❂✿❃❀✽✿ ❁❄❂❃ ❃❄❅❄❇✿❃✿❅✽ ✽❀❀✺✻
✶ ❈❀❅❅✿❊✽ ❁❂❀❃ ❄❅❋ ●✿❍✼❊✿
■❊❀❃❏✹✽✿❂❑ ✽❄▲✺✿✽ ❀❂ ✻❃❄❂✽❏▼❀❅✿◆
✶ P❄✼❅ ❊❀❃❏❂✿▼✿❅✻✼❍✿ ▼✼✻✽❀❂✼❊❄✺ ❂✿❏❀❂✽✼❅❇
✶ ❈❄▲✺✿ ✽▼✿❁✽ ❃❀❅✼✽❀❂✼❅❇ ✽✿◗✽ ❄✺✿❂✽✻
❘❙❯❳❩❬❳ ❭❙❪❫ ❴❵❩❛❵❫ ❳❙❴❩❭❜
ë åìíäëìñ âëìç åìãïíòçìó
îêç íî æíâçèîçò éã åìçîâìíýç
îãäç äçòíâëéíãèîó ýúé èãé
❘ æëîî ❈ òìúûîó æí ② ç èëìâãéü
íâî÷ ❙ êç âëè ãìòçì ýæããò
éçîéî ëèò íèéçìåìçé éêçä
ëî îêç âìçëéçî ë éìçëéäçèé
åæëè ðãì ë åëéíçèé÷
❤ çììãè t î ãð ✤ âç êãúìî ëìç
✐ ë÷ä÷ éã ✂ å÷ä÷ ✥ úçîòëñ
rsts✉ ✇① ③④⑤⑥⑦⑧⑨⑩❶ ❷❸①
❹⑧⑥❺❻❸ ❼⑦⑨❽❾ ❿❷ ➀ ➁➂r➃✉➄➅➃➂r✉➁
✈❝❞❞❡❢❣❤❤❣❥❝❦❣❧♠♥♦❧♣
❝❥q❡♠q❡♥♦❧♣
❉✎✏✑✏✒