Meals, Entertainment, and Travel Deductions Post-2018 Tax Reform

By | July 18th, 2018|Categories: Tax Information|Tags: |

The Tax Cuts and Jobs Act passed in 2017, and effective in 2018, provides businesses with a reduced tax rate, but also significantly alters the tax deductions businesses can claim. Some major categories of tax deductions that have been adjusted are meals, entertainment, and travel for either employees or clients. The changes are provided in the Read more

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When is an entertainment an expense?

By | April 20th, 2018|Categories: Uncategorized|Tags: , |

The tax rules related to meals and entertainment have changed, and left some uncertainty in the gap between the old law and the new. Before the Tax Cuts and Jobs Act, the deduction allowed for entertainment expenses was limited to 50 percent of the amount otherwise deductible. Under the TCJA, the deduction for entertainment is completely Read more

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Individual & Business Tax Changes 2018

By | December 28th, 2017|Categories: Small Business, Tax Information|Tags: , , , , , , , |

Generally, the provisions in the Tax Cuts and Jobs Act (TCJA) take effect on January 1, 2018. Most of the provisions affecting individuals are temporary and “sunset” after 2025, while the majority of business provisions are permanent. Following is a rundown on some of the key changes. Most individual taxpayers will not see the changes until Read more

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7 Year-End Tax Arrangements to Make Before 2017

By | December 8th, 2016|Categories: Financial Investments, Small Business, Tax Information|Tags: , , , , , , , , |

As the eleventh hour of 2016 comes to a close, it’s time to prepare a clean tax ledger for a new year! Regardless of what money-saving strategies you’ve implemented this year, you should take the time now to prepare yourself for April. If you haven’t already done so, try making these seven year-end arrangements to save  in Read more