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 assets, instead of taking depreciation deductions over time. And it was increased and expanded by the Tax Cuts and Jobs Act (TCJA). Even better, the
The Tax Cuts and Jobs Act (TCJA) dealt several blows to the nonprofit sector. One of them is that, effective January 1, 2018, nonprofit employers are subject to tax on transportation fringe benefits provided to employees. The IRS recently released Notices 2018-99 and 2018- 100 to provide guidance on this issue.
The Tax Cuts and Jobs Act changed the rules for business autos. Here are a few highlights.
The new family and medical leave credit could be an attractive perk for your company’s employees. However, it can be expensive because it must be provided to all qualifying full-time employees.
Special tax breaks that allow deductions to be taken more quickly are available for certain real estate investments. There are two breaks you might not be able to enjoy due to a drafting error in the TCJA.
You may have heard about many of the Tax Cuts and Jobs Act (TCJA) provisions in the news, however Qualified Opportunity Zones (QOZs) have managed to stay out of the spotlight.
When deciding whether to lease or buy a fixed asset, there are a multitude of factors to consider, including tax implications.
With the biggest tax law changes in decades — under the Tax Cuts and Jobs Act (TCJA) — generally going into effect beginning in 2018, most businesses and their owners will be significantly impacted. So, refreshing yourself on the major changes is a good idea.
The flat 21% federal income tax rate for C corporations under the Tax Cuts and Jobs Act (TCJA) has been great news for these entities and their owners. But some fundamental tax truths for C corporations largely remain the same.
The tax rules related to meals and entertainment have changed, and left some uncertainty in the gap between the old law and the new. Before the Tax Cuts and Jobs Act, the deduction allowed for entertainment expenses was limited to 50 percent of the amount otherwise deductible. Under the TCJA, the deduction for entertainment is completely repealed.