Archive

29Nov2017

When Business Meals and Entertainment Are Deductible

  Article Highlights: Ordinary and Necessary Directly-Related Test Associated-With Test Lavish Substantiation Requirements An often asked question is: are meals and entertainment deductible in the course of one’s business, and if so, under what circumstances? This type of expense requires you to comply with some pretty complicated qualifications, and if you can jump through the

22Nov2017

House Releases Tax Cuts & Jobs Act – See How It Might Affect Your Business

  Article Highlights Maximum Tax Rate on Business Income of Individuals Business Expensing Sec 179 Business Interest Expense Limitation Business Entertainment Sec 1031 Exchanges Self-Created Property Domestic Production Deduction Business Credits Corporate Tax Rate Personal Service Corporation Tax Rate Net Operating Loss This is part 2 of a 2-part series on the proposed Tax Cuts

09Nov2017

Tax Cuts and Jobs Act – See How It Would Affect You

    Article Highlights Deductions Exemptions Tax Rates Family and Child Tax Credits Education Benefits Plug-In Electric-Vehicle Credit Alimony Home-Sale Gain Exclusion Moving Expenses Estate Taxes   This is Part 1 of 2 in a series on the proposed Tax Cuts and Jobs Act. This part covers the provisions that apply to individual taxpayers. Part