/Tag: TCJA

Bonus Depreciation for Your Business: Let’s Review Your Options

By |2020-03-01T04:08:44+00:00November 5th, 2019|Categories: Articles, Blog|Tags: , , , , , |

  First-year bonus depreciation has been around for a while now. However, the Tax Cuts and Jobs Act (TCJA) set forth more generous, but temporary, rules for 2018 through 2026. Recent IRS guidance gives you additional flexibility to fine-tune the bonus depreciation break to suit your specific business and personal tax circumstances. Here's what you [...]

Employer provided vehicles – 2019 IRS updates

By |2020-04-06T22:40:45+00:00May 22nd, 2019|Categories: Articles, Blog|Tags: , , , , , , |

The IRS recently announced the inflation-adjusted maximum value of an employer-provided vehicle under the vehicle cents-per-mile rule and the fleet-average value rule. Employers can use the rules to value an employee’s personal use of such a vehicle for income and employment tax purposes. The new values reflect vehicle-related amendments in the Tax Cuts and [...]

Final regulations and guidance for QBI deductions come from the IRS just in time

By |2020-04-06T22:52:41+00:00February 1st, 2019|Categories: Blog|Tags: , , , , , , , , |

When President Trump signed into law the Tax Cuts and Jobs Act (TCJA) in December 2017, much was made of the dramatic cut in corporate tax rates. But the TCJA also includes a generous deduction for smaller businesses that operate as pass-through entities, with income that is “passed through” to owners and taxed as [...]

Tax Cut and Job Act (TCJA) Creates Many Opportunities for Year-End Planning

By |2020-04-07T22:23:34+00:00December 19th, 2018|Categories: Blog|Tags: , , , , , , |

The Tax Cuts and Jobs Act (TCJA) created more than 100 new tax provisions, which is a staggering thought. The good news is that these, and some of the surviving provisions, create a wealth of year-end planning opportunities. Choose the smart approach to deductions Many taxpayers who traditionally itemize their deductions might end up [...]

Year-End Tax Planning for Businesses in the New Tax Environment

By |2020-04-07T22:05:13+00:00December 19th, 2018|Categories: Blog|Tags: , , , , , |

The passage of the Tax Cuts and Jobs Act (TCJA) in late 2017 has brought significant changes to the tax landscape. As we approach the first tax season under the new law, practitioners are looking at tax planning strategies to maximize the tax benefits. Fresh opportunities The TCJA creates several new avenues of potential [...]

Big Changes for the Tax Treatment of Alimony Payments

By |2018-04-09T23:33:45+00:00February 13th, 2018|Categories: Tax Cuts and Jobs Act, Tax Planning|Tags: , , , , , , |

Are you in the process of a divorce, or considering revisions to a divorce agreement?  Be aware that the recently enacted Tax Cuts and Jobs Act (TCJA) is bringing drastic changes to the tax treatment of alimony payments. Current Rules Current rules allow a deduction for alimony payments made pursuant to a divorce or separation [...]

Highlights of the new tax reform law

By |2018-04-09T23:34:23+00:00December 21st, 2017|Categories: News, Tax Cuts and Jobs Act|Tags: , , , , , , , , |

The new tax reform law, commonly called the “Tax Cuts and Jobs Act” (TCJA), is the biggest federal tax law overhaul in 31 years, and it has both good and bad news for taxpayers. Below are highlights of some of the most significant changes affecting individual and business taxpayers. Except where noted, these changes are [...]

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