Commercial buildings and improvements generally are depreciated over 39 years, which essentially means you can deduct a portion of the cost every year over the depreciation period. (Land isn’t depreciable.) [...]
Not all crooks roam the streets at night. Some might be roaming your company hallways, stealing cash, forging or altering checks, and pilfering your inventory and property. Even worse, they [...]
If you’re like many Americans, letters from your favorite charities have been appearing in your mailbox in recent weeks acknowledging your 2018 year-end donations. But what happens if you haven’t [...]
Over the years, Congress has established some nice tax breaks for transportation-related employee fringe benefits to encourage taxpayers to be more ecology-minded when commuting to work. But, the Tax Cuts [...]
A whopping 75% of all child support is collected through employer-based income withholding orders (IWOs), according to the federal Office of Child Support Enforcement (OCSE). In the most recent year [...]
While most provisions of the Tax Cuts and Jobs Act (TCJA) went into effect in 2018 and either apply through 2025 or are permanent, there are two major changes under [...]
The dawning of 2019 means the 2018 income tax filing season will soon be upon us. After year end, it’s generally too late to take action to reduce 2018 taxes. [...]
Retirement plan contribution limits are indexed for inflation, and many have gone up for 2019, giving you opportunities to increase your retirement savings: Elective deferrals to 401(k), 403(b), 457(b)(2) and [...]
In an era filled with uncertainty, you can count on one thing: time marches on. Here are some important age-related financial and tax milestones to keep in mind for you [...]
When it comes to making an acquisition, stock and asset purchases have their advantages and disadvantages but there might be a way to combine the best of both worlds. Buying [...]
Do you have long-term capital gains or qualified dividends? If so, there's good news: After the Tax Cuts and Jobs Act (TCJA), you might still qualify for the 0% federal [...]
Limitations on the deduction for qualified business income (QBI) begin to phase in when an individual's taxable income (calculated before any QBI deduction) exceeds the threshold of $157,500 or $315,000 [...]
Information from IRS.gov Tax reform legislation passed in December 2017 includes changes that affect businesses. One of these changes allows businesses to write off most depreciable business assets in the [...]
Information from IRS.gov The Tax Cuts and Jobs Act – better known as tax reform – allows more small business taxpayers to use the cash method of accounting. Tax reform [...]
If your business gives gifts to customers, clients or other contacts during the holiday season, you may be able to deduct all or part of the cost. But there are [...]