General News

Too Much Tax Deferral?

Can You Have Too Much Tax Deferral? Taking steps to defer your individual federal income tax bill is often a good idea. If you expect to be in the same tax bracket in future years, lowering this year’s taxable income will postpone your tax bill and give you extra cash to work with until the…

Read More

New Dependent Credit and HOH Filing

Are You Eligible for the New Dependent Credit and HOH Filing Status? The IRS continues to publish guidance to clarify provisions of the Tax Cuts and Jobs Act (TCJA). Here’s what you need to know about qualifying for the new $500 tax credit for dependents and beneficial head of household (HOH) filing status based on…

Read More

Opportunity Zone Tax Incentive Regulations

IRS proposes regulations for Opportunity Zone tax incentives The Tax Cuts and Jobs Act (TCJA) includes a provision that Secretary of the Treasury Steven Mnuchin said should lead to $100 billion in capital investments in distressed areas. The provision allows taxpayers to defer tax on capital gains by investing in such Opportunity Zones. And now…

Read More

Cost Segregation Adds Up

Tax Savings from Cost Segregation Studies Add Up for Businesses Has your company invested in buildings this year to rent out or use for business purposes? Real estate investors have used cost segregation studies for many years to lower their tax bills. In a nutshell, these studies divide property into smaller parts, allowing for faster…

Read More

Accountable Plans for Employee Reimbursement

Create an Accountable Plan to Reimburse Employees for Business Expenses Did you know that the Tax Cuts and Jobs Act (TCJA) eliminated itemized deductions for employees who incur unreimbursed expenses for company business for 2018 through 2025? Fortunately, you can set up a so-called “accountable plan” to minimize the adverse effects of this TCJA provision….

Read More

Scroll Up