Your roundup of deductible miscellaneous expenses
What do you call those deductible expenses that don’t fit squarely into any other category? The IRS refers to them as “miscellaneous” expenses. If you qualify, you can deduct the […]
Charitable donation records: What you need for your 2017 return
If you contributed to charity in 2017, you can generally deduct the full amount on your tax return with one caveat: You must have the records to back up your […]
Make sure repairs to tangible property were actually repairs before you deduct the cost
Repairs to tangible property, such as buildings, machinery, equipment or vehicles, can provide businesses a valuable current tax deduction — as long as the so-called repairs weren’t actually “improvements.” The […]
2018 Tax Calendar
To help you make sure you don’t miss any important 2018 deadlines, we’ve provided this summary of when various tax-related forms, payments, and other actions are due. Be aware that […]
New law offers small business tax breaks
The Tax Cuts and Jobs Act (TCJA) does much more for businesses than lower corporate tax rates. With careful planning, your small business may realize big tax benefits under the […]
New budget agreement brings additional tax changes
The ink on the Tax Cuts and Jobs Act (TCJA), which swept in a tidal wave of changes to federal tax rules, had been dry for only seven weeks before […]
Here’s a new tax prescription for medical expenses
The new tax reform law — the Tax Cuts and Jobs Act (TCJA) — preserves the deduction for medical expenses, unlike many other itemized deductions. But that’s only part of […]
2017 Tax Reform: Last-minute year-end moves in light of Tax Cuts and Jobs Act
With the Tax Cuts and Jobs Act reportedly headed for the President’s desk shortly, many clients may be asking what they can do before year-end to best position themselves for […]
Goodbye TEFRA, Hello New Partnership Audit Rules
For tax years beginning after December 31, 2017, new rules will apply by default to partnerships and entities taxed as partnerships. Below is a brief summary of the relevant rules, […]
2017 Year-End Tax Planning Amid Tax Reform
The final weeks of the year offer the opportunity for some final tax-saving strategies. At the time of this writing, uncertainty and debate surround federal tax reform that Congress might […]