2018 Tax Changes

It is sad to say but the end of the year is right around the corner.  The last time I looked we are only about 9 weeks away until 2019.  During this time everyone is busy with the holidays (Halloween, Thanksgiving, and Christmas).  This is also a great time to think about tax planning, especially because of the new tax law of 2017.  If you receive a W-2, it is likely you have seen an increase in the net pay you get due to the change in the federal tax withholding tables.  It is a good idea to take a look at your federal withholding taken out to date to make sure it will be enough.  We have done some planning for clients and not enough federal withholding has been taken out to cover the total tax.  If this is your case you still have time to adjust the withholding for the last couple months of paychecks.

Another change for 2018 is the increase in the child tax credit, which is a great thing for families with kids under 17.  In the past the taxpayers under the income limit could get a $1000 credit per child.  This credit was limited if you met the income limit or it was even phased out completely.  Starting in 2018 the credit went up to $2000 per child under 17 and the income limit increased to $400,000 for married filing joint taxpayers, allowing more taxpayers to qualify for the credit.  In the past, taxpayers were not eligible for a tax credit for dependents over the age of 17.  Starting in 2018 taxpayers are eligible for a $500 nonrefundable credit for each of those dependents.  If you have grandparents or parents and you are providing more than half their support, now you can claim them as a dependent and get a $500 tax credit.

These are just a couple of the changes that were included in the tax law.  If you have questions please consult your tax advisor.

Michelle MinnerathPast President
Ketel Thorstenson, LLP

Amber Irving

Amber Irving

Spotlight Winner

Amber IrvingMy name is Amber Irving and I was born and raised here in the beautiful Black Hills area. I am a proud wife to my husband Felix, a retired Air Force military veteran. We take great pride in serving our community and helping other local veterans in our area. We also spend a significant amount of time with our 6 Old English Bulldogs. My husband and I run a BBQ Sauce Company called BEARD-BQ. This business derived from our wedding day when we served our guests Felix’s homemade sauce. It was a hit with all of our guests that we decided to share it with others!

My other great passion is helping locals in our community with their insurance needs. I’ve been in the insurance industry for over 7 years; six of which have been spent as the Office Manager at Gregg Fullerton’s State Farm Agency. I take great pride in customizing plans to fit customer’s specific needs.

Michelle Kane

Michelle Kane

Spotlight Winner

Michelle KaneAs director of SD CEO, Michelle Kane provides business counseling and resource guidance to aspiring and established entrepreneurs.

Michelle and the SD CEO team are privileged to bring outstanding workshops, networking opportunities and conferences to professional women across the state while promoting entrepreneurship and leadership. Prior to joining SD CEO, Michelle owned Black Hills PR, a public relations firm she launched in 2011. Headquartered in Spearfish, Black Hills PR designed marketing, social media and PR programs for local, regional and national clients including three years traveling with a professional rodeo association.

She earned her bachelor’s degree in Advertising from San Jose State University and is a 4th generation Californian who says that she “found her spot” in Spearfish.

You can find Michelle at the creek, lake or pool with her son Jack, on the golf course with husband Mike, on her front porch with friends or in her garden, weeding and listening to podcasts.

Debbie Pack

Debbie Pack

Spotlight Winner

Debbie PackDebbie is an on-air personality for 97.9 The Breeze, selling advertising for Bethesda Christian Broadcasting. Their mission statement is to impact people for Christ and equip them to put their faith into action.

“Growing up in Rapid City has taught me to be a more compassionate person and it’s taught me to love my neighbor whoever that might be.”

Debbie wasn’t really sure what she wanted to be when she grew up but had a feeling it would have something to do with helping other people because some of her earliest memories, even as small child, she knew she had a heart for those less fortunate than herself.

Debbie is a mother, a wife, a sister and homemaker, a volunteer, gardener, singer and she does her best to be a good community leader in whatever capacity she finds herself in. Married just out of high school with no college degree her journey has taken Debbie many places.

Debbie’s career path started in the corporate world. She held leadership roles in Banking and Finance as well as the Insurance Industry. Soon Debbie understood that she was meant to serve in a different capacity. From a gospel rescue mission that served homeless families, to serving single moms with children and people living with HIV. During this journey, Debbie has encountered some remarkable people. Almost daily she found herself looking into the eyes and hearts of some very lost people. All they longed for was someone who could listen and hear their voices. Some of them inspired Debbie more than she could ever imagine inspiring them but many just needed to know that someone cared enough to come alongside them in that moment of desperation with a smile and a bit of encouragement.

“I am truly blessed to have a remarkable husband and two lovely daughters who keep me grounded. Our new addition to the family is our 10-month-old granddaughter!”

Together, Debbie’s family enjoy experiences; like trying out different food and exploring the Black Hills while climbing Harney Peak, Buzzards Roost and Hippy Hole and Sunday Gulch Trail. Debbie’s new found adventure is kayaking, she personally likes to just find a quiet lake to float about and write in her journal or take pictures.

Debbie’s home is always open to friends to stop in and have a cup of coffee or play music together. She tries to find the best in everyone she meets and inspires them to continue to strive to seek their passion.

Christy Hawthorne

Christy Hawthorne

Spotlight Winner

Christy HawthorneChristy is a financial advisor for Edward Jones investments! In early 2017, she and her family moved from California so they could enjoy the slower pace of life the Black Hills offers. The decision challenged her to think about what she really wanted from her career and professional life, and she realized that teaching was no longer the answer. Twelve (12) years of teaching high school and five (5) as a professor had left her burnt out and Christy felt that the field has robbed her of the time and opportunity to provide meaningful help to her students. After talking to a friend, Christy decided to make the leap and go to Edward Jones and she is SO grateful. She loves her job!

Christy has been married to her wonderful husband Joe for 14 years and have two (2) awesome boys. Eric is 10 and Adam is 8. They also have a cat named Elvis who thinks he is a dog, and a horse named Bug.

Christy enjoys riding horses and has recently returned to the show ring! As a family, the Hawthornes love to fish and enjoy spending time in the hills hiking, biking, and hunting.

“I love helping others! Helping others improve their lives and achieve their goals is one of my biggest drivers.”

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