1 min read
Investment Interest Expense Is Still Deductible, but It Might Not Matter
As you likely know by now, the Tax Cuts and Jobs Act (TCJA) reduced or eliminated many deductions for individuals. One itemized deduction the TCJA...
To help you understand the implications of the recent Corporate Transparency Act
We have prepared a selection of frequently asked questions.
2 min read
Business Real Estate Depreciation: Before You File 2018 Return
Commercial buildings and improvements generally are depreciated over 39 years, which essentially means you can deduct a portion of the cost every...
2 min read
Don't Wait to File Your 2018 Income Tax Return
The IRS opened the 2018 income tax return filing season on January 28. Even if you typically don’t file until much closer to the April 15 deadline,...
4 min read
Are You Eligible for the New Dependent Credit and HOH Filing Status?
The IRS continues to publish guidance to clarify provisions of the Tax Cuts and Jobs Act (TCJA). Here's what you need to know about qualifying for...
3 min read
Can You Have Too Much Tax Deferral?
Taking steps to defer your individual federal income tax bill is often a good idea. If you expect to be in the same tax bracket in future years,...
4 min read
Should You Switch Your Business to C Corp Status?
Thanks to the Tax Cuts and Jobs Act (TCJA), the federal income tax rate on C corporations is now a flat 21%, for tax years beginning in 2018 and...
2 min read
Own a Business? An Exit Strategy Should Be Part of Your Tax Planning
Tax planning is a juggling act for business owners. You have to keep your eye on your company’s income and expenses and applicable tax breaks...
1 min read
Which Tax-Related Limits Affecting Your Business Are Increasing in 2019?
A variety of tax-related limits affecting businesses are annually indexed for inflation, and many have gone up for 2019. Here’s a look at some of the...
1 min read
There’s Still Time to Get Proof for 2018 Deductible Donations
If you’re like many generous Americans, letters from your favorite charities have been appearing in your mailbox in recent weeks acknowledging your...
2 min read
Is There Still Time to Pay 2018 Bonuses and Deduct on 2018 Return?
There aren’t too many things businesses can do after a year ends to reduce tax liability for that year. However, you might be able to pay employee...
1 min read
Automatic Extension Available for Making Portability Election
Portability allows a surviving spouse to apply a deceased spouse’s unused estate tax exemption amount toward his or her own transfers during life or...
2 min read
6 Last-Minute Tax Moves for Your Business
Tax planning is a year-round activity, but there are still some year-end strategies you can use to lower your 2018 tax bill. Here are six last-minute...
2 min read
Check Deductibility Before Making Year-End Charitable Gifts
As the holidays approach and the year draws to a close, many taxpayers make charitable gifts — both in the spirit of the season and as a year-end tax...