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 […]
3 little-known tax breaks for small businesses
Some tax planning moves for small businesses are more common, like acquiring property that qualifies for the generous Section 179 expensing allowance. But other strategies may fly under the radar. […]
Can you deduct a medical home improvement?
Are you planning to make substantial home improvements in the coming year? Normally, you can’t deduct home improvement expenses on your personal tax return. However, you may be able to […]
The ABCs of business education deductions
Now that the kids are back in school, you may have the itch to return to the classroom yourself, perhaps to brush up on certain skills in your field or […]
The long tax view on charitable easements
Do you own real estate property far from the suburban sprawl? If you donate a part of the property as a “conservation easement” to a qualified charity you can realize […]
Why the Disabled Access Credit could apply to your business upgrades
Are you upgrading the offices or workspace of your small business? This may be an opportunity to make improvements to accommodate individuals with disabilities (including your own employees and visitors […]
The rules of hardship withdrawals
Suppose you need to borrow money in a hurry and your only obvious option is a bank loan with sky-high interest — if you can even obtain one. Consider an […]