While the Tax Cuts and Jobs Act benefited many taxpayers by lowering the income tax rates for many, nearly doubling the standard deduction, and providing higher tax credits for families with children; it also took away from other taxpayers by eliminating many tax breaks.
*DEFINITION OF ACCREDITED INVESTOR
You qualify as an Accredited Investor if you meet any of the following criteria:
a) You earn over $200,000 in annual income,
b) You, together with your spouse earn over $300,000 in joint annual income,
c) You have a net worth, exceeding $1,000,000 (excluding the value of my primary residence), individually or together with my spouse.
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