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Posts from June, 2018

  • Tax Reform and Section 199A Deductions Overview A key portion of the new Tax Cuts and Jobs Act (TCJA) is Section 199A and its deduction of qualified business income. Section 199A allows taxpayers other than corporations a deduction of 20 percent of qualified business income that is earned in a qualified trade or business, ... Continue Reading
  • Tax Planning After the Tax Cuts and Jobs Act (TCJA) Tax planning will become more important than ever now that the TCJA has completely transformed the tax code landscape. There are significant implications for tax planning on every level, from individuals to businesses. The following highlights provide a bird’s-eye-view of ... Continue Reading
  • Are Entertainment and Client Meal Expenses Deductible Under TCJA? With such sweeping changes coming in with that Tax Cuts and Jobs Act (TCJA), there has been a fair amount of confusion with how certain deductions are handled. In particular, there are frequent questions about how entertainment and client meal expenses are handled. Before ... Continue Reading
  • A Brief Overview On How Tax Reform Affects Choice of Entity The Tax Cuts and Jobs Act (TCJA), signed by President Trump in Dec. 2017, has significant implications for how businesses will assess the choice of entity. Prior to reform, partnerships were a very common choice of entity, but with the new provisions in TCJA, the C ... Continue Reading