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Business Owners Beware: New Tax Law Severely Limits Entertainment Deductions

If you are a business owner who is accustomed to treating clients to sporting events, golf getaways, concerts and the like, we have some bad news for you. The GOP’s tax-reform bill that President Trump signed on December 22nd of last year…
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Have Business Income? If So, You Score Big With The New Tax Reform

Note: The is one of a series of articles explaining how the various tax changes in the GOP’s Tax Cuts & Jobs Act (referred to as “the Act” in this article), which passed in late December of 2017, could affect you and your family, both…
Capital Building
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Tax Reform Limits Exchanges to Defer Taxes

Note: This is one of a series of articles explaining how the various tax changes made by the GOP’s Tax Cuts & Jobs Act (referred to as the “Act” in the article), passed late in December 2017, might affect you and your family in 2018…
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2018 Standard Mileage Rates Announced

As it does every year, the Internal Revenue Service recently announced the inflation- adjusted 2018 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable or medical purposes. Beginning…
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House Releases Tax Cuts & Jobs Act - See How It Might Affect Your Business

This is part 2 of a 2-part series on the proposed Tax Cuts & Jobs Act and generally covers the provisions applying to small businesses and self-employed taxpayers. Part 1 covered the individual taxpayer provisions The House Ways and Means…
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Natural Disaster Charity Volunteer Tax Breaks

If you volunteered your time for a charity in the aftermath of a natural disaster, you probably qualify for some tax breaks. Although no tax deduction is allowed for the value of services performed for a qualified charity or federal, state or…
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Hurricane Harvey and Irma Disaster Loss Tax Ramifications

With the historic flooding and damage caused by recent hurricanes, President Trump has declared the affected areas disaster areas. If you were an unlucky victim and suffered a loss as a result of these disasters, you may be able to recoup a…
Tax Due Dates

July 2017 Individual Due Dates

July 1 - Time for a Mid-Year Tax Check Up Time to review your 2017 year-to-date income and expenses to ensure estimated tax payments and withholding are adequate to avoid underpayment penalties. July 10 - Report Tips to Employer If…