The American Rescue Plan Act (ARPA) was signed into law on March 11, 2021. The new law will provide roughly $1.9 trillion in much-needed financial relief to individuals, businesses, not-for-profit organizations, [...]
Are you planning to make substantial renovations to your home? You may be adding a deck or patio, finishing a basement or attic or installing a pool. Despite some changes [...]
There’s good news about the Section 179 depreciation deduction for business property. The election has long provided a tax windfall to businesses, enabling them to claim immediate deductions for qualified [...]
If your small business is unincorporated, you may be fed up with paying the federal self-employment (SE) tax. This tax is how the federal government collects Social Security and Medicare [...]
Most businesses will owe less tax for the 2018 tax year than they would have under prior law, thanks to changes brought by the Tax Cuts and Jobs Act (TCJA). [...]
When you file your 2018 income tax return, you’ll likely find that some big tax law changes affect you — besides the much-discussed tax rate cuts and reduced itemized deductions. [...]
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 [...]
Tax credits reduce tax liability dollar-for-dollar, potentially making them more valuable than deductions, which reduce only the amount of income subject to tax. Maximizing available credits is especially important now [...]