9.21.20
Business Website Costs: How to Handle Them for Tax Purposes
The business use of websites is widespread. But surprisingly, the IRS has not yet issued formal guidance on when Internet website costs can be deducted.…
9.18.20
The IRS Issues Guidance on the Executive Action Deferring Payroll Taxes
On August 28, the IRS issued guidance that provides some explanation of how employers can defer withholding and remitting an employee’s share of Social Security…
9.17.20
CARES Act Fixes the Retail Glitch and Once Again Makes QIP Eligible for Bonus Depreciation
The Tax Cuts and Jobs Act (TCJA) eliminated three nonresidential real property categories (qualified leasehold improvement property, qualified restaurant property and qualified retail improvement property)…
9.15.20
College Savings Showdown: 529s vs. Roth IRAs
Many people assume that a 529 plan is the ideal college savings tool, but other vehicles can help parents save for college expenses, too. Take…
9.14.20
Review Your Estate Plan Following a Major Shock
Generally, it’s recommended that you review your estate plan at year’s end. This is a logical time to note important life events that have taken…
9.13.20
AMT Less “Toothy” But May Still Take a Bite
For many years, the alternative minimum tax (AMT) posed a risk to many taxpayers in the middle- to upper-income brackets. The Tax Cuts and Jobs…
9.11.20
Business Valuation Checklist
Business owners should always operate from a position of strength. That’s why having at least a baseline business valuation is important. The simple truth is…
9.4.20
Recent Changes to Depreciation of Qualified Improvement Property
On December 22, 2017, President Trump signed into law the Tax Cuts and Jobs Act (TCJA). While the TCJA was one of the largest overhauls…
9.3.20
Employers Have Questions and Concerns About Deferring Employees’ Social Security Taxes
The IRS has provided guidance to employers regarding the recent presidential action to allow employers to defer the withholding, deposit and payment of certain payroll…
9.1.20
Reviewing the Finer Points of the Section 199A Tax Deduction
It’s been over a year since the IRS issued final regulations regarding Internal Revenue Code Section 199A. This Code Section created a tax deduction enabling…