General News

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…

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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…

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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…

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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….

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Employees can Defer Income from Equity-Based Pay

Tax Law Allows Employees to Defer Income from Equity-Based Pay Equity-based compensation can be a great way to reward and retain valued employees, especially for companies with limited cash on hand. And the Tax Cuts and Jobs Act (TCJA) makes it even more advantageous by offering a new tax-favored alternative to employees who receive these…

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