The Tax Cuts and Jobs Act (TCJA) brought a significant, albeit delayed, change to the tax treatment of research and experimentation (R&E) costs under Internal Revenue Code Section 174. After [...]
Let’s say you have an unincorporated sideline activity that you consider a business. Perhaps you offer photography services, create custom artwork or sell handmade items online. Will the IRS agree [...]
The Tax Cuts and Jobs Act (TCJA) dramatically increased the unified federal gift and estate tax exemption from $5.49 million in 2017 to $13.61 million in 2024. If you're married, [...]
The Tax Cuts and Jobs Act (TCJA) made sweeping changes to the federal tax rules for individual taxpayers. Many of these provisions are scheduled to expire at the end of [...]
Buckle up, America: Major tax changes are on the horizon. The reason has to do with tax law and the upcoming elections. Our current situation The Tax Cuts and [...]
The Tax Cuts and Jobs Act (TCJA) included good news for taxpayers that use cars, SUVs, pickups and vans for business purposes. Specifically, it permanently liberalized the Section 179 first-year depreciation [...]
Let’s say you plan to use a C corporation to operate a newly acquired business or you have an existing C corporation that needs more capital. You should know that the [...]
Interest rates rise and fall periodically, but the tax rules for deducting interest expenses remain the same — unless Congress changes them. Generally, the current rules have been in place [...]
Under tax law, businesses can generally deduct advertising and marketing expenses that help keep existing customers and bring in new ones. This valuable tax deduction can help businesses cut [...]
The federal income tax treatment of business-related meal and entertainment expenses has been a moving target the last few years. If you're confused about what rules currently apply, you're not [...]
Seniors who must take withdrawals from their IRAs may be able to benefit from a special tax provision for qualified charitable distributions (QCDs). Briefly stated, this provision allows people in [...]
First the bad news: Despite passage of the Tax Cuts and Jobs Act (TCJA), the individual alternative minimum tax (AMT) is still in place. But there's some good news: The [...]
If you own a small or medium-sized business, it may be eligible for some significant tax breaks that aren't available for larger entities. Here are three examples to consider as you [...]
The IRS began accepting 2021 individual tax returns on January 24. If you haven’t prepared yet for tax season, here are three quick tips to help speed processing and avoid [...]
Do you want to sell commercial or investment real estate that has appreciated significantly? One way to defer a tax bill on the gain is with a Section 1031 “like-kind” [...]