Investment interest expense is still deductible, but that doesn’t necessarily mean you’ll benefit As you likely know by now, the Tax Cuts and Jobs Act (TCJA) reduced or eliminated many deductions for individuals. One itemized deduction t... Read More
Don’t let unemployment insurance fleece your nonprofit Is your not-for-profit overpaying unemployment tax? Many employers are and don’t know it. Here’s how to find out and possibly r... Read More
Depreciation-related breaks on business real estate: What you need to know when you file your 2018 return Commercial buildings and improvements generally are depreciated over 39 years, which essentially means you can deduct a portion of the cost... Read More
Evaluating your audit committee Under the Sarbanes-Oxley Act, the audit committee — not management or the full board of directors — is directly responsible for... Read More
Higher mileage rate may mean larger tax deductions for business miles in 2019 This year, the optional standard mileage rate used to calculate the deductible costs of operating an automobile for business increased by 3... Read More
What will your marginal income tax rate be? While the Tax Cuts and Jobs Act (TCJA) generally reduced individual tax rates for 2018 through 2025, some taxpayers could see their taxes g... Read More
How do profits and cash flow differ? Business owners sometimes mistakenly equate profits with cash flow. Here’s how this can lead to surprises when managing day-to-day op... Read More
Is there still time to pay 2018 bonuses and deduct them on your 2018 return? There aren’t too many things businesses can do after a year ends to reduce tax liability for that year. However, you might be able to... Read More
Charitable donations: Unraveling the mystery of motivation Traditionally, Americans have supported charities not only for tax breaks and a vague sense of “giving back,” but also for a va... Read More
2 major tax law changes for individuals in 2019 While most provisions of the Tax Cuts and Jobs Act (TCJA) went into effect in 2018 and either apply through 2025 or are permanent, there ar... Read More
Investment interest expense is still deductible, but that doesn’t necessarily mean you’ll benefit
