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Program offers info on taxing matters

By: Terry Oparka | Troy Times | Published February 18, 2020

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TROY — Troy resident and tax expert Tom Hill wants to share ideas on how to save money on your tax bill.

Hill noted that changes made in 2018 were the biggest changes to the tax laws in 30 years.

“The standard deduction almost doubled, the tax rate lowered and the child credit doubled,” he said.

Other changes include deductions that can be applied retroactively, and in some cases amend 2018 tax returns, Hill said.

Hill, a CPA for over 35 years who retired as the chief financial officer of the UAW-GM Center for Human Resources in Detroit, will present “Getting Ready for Tax Time, What You Need to Know”  at 7 p.m. Feb. 25 at the Troy Public Library.

“We are so happy to have Tom Hill back for another evening of income tax guidance,” Constance Doherty, the head of adult information services at the Troy Public Library, said via email. “Our patrons have benefited tremendously from his 35-plus years of accounting and tax experience over the last few years. We truly appreciate Tom’s sharing of his expertise with issues like minimizing tax liability and avoiding a potential audit. He really helps ease the pain of filing your taxes.”

Hill said he’s presented tax informational programs at the Troy Public Library for the past five years. He said people are often surprised to learn about deductions and credits they are eligible for that they weren’t aware of and what their actual tax rate is.

He will also talk about free options for preparing your taxes offered through the IRS and the nonprofit Accounting Aid Society, based on income.

“The IRS Free File Program offers free software programs for those with annual incomes at $69,000 or below,” Hill said.  

His program will also cover what documentation and information to pull together for your taxes and ways to save money on taxes in the future.

He will also leave time for a Q&A following his presentation.

Registration is required. Call (248) 524-3534 or visit troypl.org/calendar to register.

The Troy Public Library is located at 510 W. Big Beaver Road.

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