Blog | WM. F. Horne & Company, PLLC

05Apr2018

Personal Casualty Losses Axed by the New Tax Law

 

House fire concept. Toy house with flames

 

Article Highlights:

 

  • Casualty Losses
  • Deduction Suspension
  • Disaster Related Casualty Losses
  • Insurance Coverage

Note: The is one of a series of articles explaining how the various tax changes in the GOP’s Tax Cuts & Jobs Act (referred to as “the Act” in this article), which passed in late December 2017, could affect you and your family, in both 2018 and future years. This series offers strategies that you can employ…

  • 5 Apr, 2018
  • Jacqueline Cran
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02Apr2018

Tax Reform Limits Exchanges to Defer Taxes

住宅イメージとビジネスマン

Article Highlights:

  • Deferring Tax with Like-Kind Exchanges
  • Changes Made by Tax Reform
  • Impact on Trade-ins

Note: This is one of a series of articles explaining how the various tax changes made by the GOP’s Tax Cuts & Jobs Act (referred to as the “Act” in the article), passed late in December 2017, might affect you and your family in 2018 and future years, and offering strategies you might…

  • 2 Apr, 2018
  • Jacqueline Cran
  • 0 Comments
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29Mar2018

Tax Reform Cracks Down on IRA Recharacterizations

 

IRA

Article Highlights:

 

  • Tax Trap
  • Traditional IRA
  • Roth IRA
  • Traditional to Roth Conversions
  • Undoing a Conversion

Note: The is one of a series of articles explaining how the various tax changes made by the GOP’s Tax Cuts & Jobs Act (referred to as the “Act” in the article), passed late in December 2017, might affect you and your family in 2018 and future years, and offering strategies you might employ to reduce your tax liability under…

  • 29 Mar, 2018
  • Jacqueline Cran
  • 0 Comments
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20Mar2018

Checking Your Federal Refund Status is Easy

 

refund

Article Highlights

  • 24/7 Access
  • Quick Posting
  • Direct Deposit
  • Necessary Information

If you have already filed your federal tax return and are due to receive a refund, you can check the status of your refund online.

Where’s My Refund? is an interactive tool on the IRS website. Regardless of whether you have split your refund among several accounts, opted for a direct deposit into one account, or asked the IRS to mail…

  • 20 Mar, 2018
  • Jacqueline Cran
  • 0 Comments
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15Mar2018

Employee Business Expenses & Tax Reform

 

bus expenses

 

Article Highlights:

  • Miscellaneous Itemized Deductions Subject to the 2% AGI Floor
  • Employee Business Expenses
  • Employee Reimbursement Plan (Accountable Plan)

Note: The is one of a series of articles explaining how the various tax changes in the GOP’s Tax Cuts & Jobs Act (referred to as “the Act” in this article), which passed in late December of 2017, could affect you and your family, both in 2018 and future years. This series offers strategies…

  • 15 Mar, 2018
  • Jacqueline Cran
  • 0 Comments
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13Mar2018

Business Income and Tax Reform

 

business income

 

Article Highlights:

  • Sec 199A Deduction
  • Qualified Business Income
  • Threshold
  • Specified Service Businesses
  • Limitations
  • Wage Limit
  • Aggregating Amounts

Note: The is one of a series of articles explaining how the various tax changes in the GOP’s Tax Cuts & Jobs Act (referred to as “the Act” in this article), which passed in late December of 2017, could affect you and your family, both in 2018 and future years. This series offers strategies that you can employ to reduce…

  • 13 Mar, 2018
  • Jacqueline Cran
  • 0 Comments
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28Feb2018

Medical Deductions & The New Tax Law

 

medical deductions

 

Article Highlights:

  • Medical Deductions Retained by the Tax Reform Law
  • Adjusted Gross Income Floor Dropped to 7.5%
  • The Standard Deduction
  • Bunching Medical Deductions
  • Unusual Medical Deductions
  • Medical Dependents
  • Divorced Parents

Note: The is one of a series of articles explaining how the various tax changes in the GOP’s Tax Cuts & Jobs Act (referred to as “the Act” in this article), which passed in late December of 2017, could affect you and your family, both in 2018…

  • 28 Feb, 2018
  • Jacqueline Cran
  • 0 Comments
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26Feb2018

New Tax Law Severely Limits Entertainment Deductions

entertainment1 (1)

 

 

Article Highlights:

  • Business Entertainment Expenses
  • Business Meals
  • Directly Related To Test
  • Associated With Test
  • Employee Meals

Note: This is one of a series of articles explaining how the various tax changes in the GOP’s Tax Cuts & Jobs Act (referred to as “the Act” in this article), which passed in late December 2017, could affect you, your business or your family, in both 2018 and future years. This series offers strategies that you can employ…

  • 26 Feb, 2018
  • Jacqueline Cran
  • 0 Comments
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23Feb2018

Deducting Business Losses Under the New Tax Reform

 

business loss (1)

 

Article Highlights:

  • Excess Business Loss
  • Computing the Loss Limits
  • Net Operating Losses (NOL)
  • NOL Carryovers

Note: This is one of a series of articles explaining how the various tax changes in the GOP’s Tax Cuts & Jobs Act (referred to as “the Act” in this article), which passed in late December of 2017, could affect you and your family, both in 2018 and future years. This series offers strategies that you can employ…

  • 23 Feb, 2018
  • Jacqueline Cran
  • 0 Comments
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21Feb2018

Surprise! Extender Bill Passed

 

surprise (1)

 

Article Highlights:

  • Mortgage Insurance Premiums
  • Above-the-Line Education Expenses
  • Exclusion of Home Cancellation of Debt Income
  • Credit for Nonbusiness Energy Property
  • Credit for New Qualified Fuel Cell Motor Vehicles
  • Credit for Alternative Fuel Vehicle Refueling Property
  • Credit for 2-Wheeled Plug-In Electric Vehicles
  • Credit for Energy-Efficient New Homes
  • Race  Horses as 3-Year Property
  • Energy Efficient Commercial Buildings Deduction

Congress passed the Budget Bill recently, and the president signed it. To the surprise of many, the bill included a number of extenders that…

  • 21 Feb, 2018
  • Jacqueline Cran
  • 0 Comments
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