Brady Ware News

IRS Guidance for Parking Expenses for Qualified Transportation Fringes

IRS Guidance for Parking Expenses for Qualified Transportation Fringes By Tracy Haines, CPA Under the Tax Cuts and Jobs Act of 2017, the law regarding the deduction for qualified transportation fringe (QTF) benefits by employers or tax-exempt organizations was changed. Specifically, under the new law, Section 274(a)(4) generally disallows a deduction for expenses related to…

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California State and Local Tax Updates December 2018

Are you curious to know how California tax withholding will change in 2019? December 12, 2018 The CA Employment Development Dept. has released income tax withholding schedules that employers will use to withhold CA tax from 2019 paychecks. You can compare the upcoming schedules to current withholding schedules. The “wage bracket table method” (Method A)…

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New York State and Local Tax Updates December 2018

New York Dept of Taxation and Finance Issues Permanent Rule December 14, 2018 The New York Dept. of Taxation and Finance has issued a permanent rule adopting the NY State and the City of Yonkers withholding tables and other methods. The rule repeals and adds new appendixes, the NY state and City of Yonkers withholding…

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Michigan State and Local Tax Updates December 2018

A new form is available in Michigan for customer refund requests December 14, 2018 Effective 1/1/19, a purchaser may request a refund from the MI Dept. of Treasury in circumstances when the purchaser failed to present a claim of exemption or otherwise notify the seller of an available exemption from sales or use tax at…

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Tax Cheer for Holiday Gifts to Employees

Tax Cheer for Holiday Gifts to Employees With the holidays fast approaching, you might want to reward your employees for all their hard work in 2018. Gift-giving ideas include gift cards, holiday turkeys and achievement awards. Although your intent may be essentially the same in all these situations, the tax outcome for recipients of your…

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