Business Deductions Directly from the IRS
The IRS recently published some guidance with regard to the new tax reform and business deductions. Yes, they are often helpful! We thought we would pass that on. From [...]
The Down Side of the New Tax Reform
The Tax Cuts and Jobs Act (TCJA) included many taxpayer-friendly changes, such as lower tax rates overall, and a much larger standard deduction for individuals. However, not all of the [...]
The Tax Cuts and Jobs Act, Part 2: Pass-through Income Deduction
There is an old saying that you cannot eat an elephant in one sitting, so over the next few blogs, I am going to take apart the new [...]
Tax Reform: Senate Bill vs House Bill
In the early hours of Saturday morning the Senate passed its version of tax reform. The House bill and the Senate bill will now go to conference committee to iron [...]
The Often-Overlooked Home Office Business Deduction
From the Desk of Lauran L. Stevenson The Often-Overlooked Home Office Business Deduction As part of National Small Business Week (April 30-May 6), the IRS highlighted a series of tips [...]
President Trump’s New Tax Proposal
From the Desk of Michael T. McCormick President Trump’s New Tax Proposal President Trump outlined his new tax proposal on Wednesday that the Administration intends to submit to Congress. “Today [...]
Tax Planning for the Donald Trump Presidency
From the Desk of Michael T. McCormick Tax Planning for the Donald Trump Presidency After a heated presidential election, the time is now to look forward and see what changes [...]
It’s a Write-off, Right? Business Deduction Requirements and Rules, Part 2
From the Desk of Lauran Corcoran It’s a Write-off, Right? Business Deduction Requirements and Rules, Part 2 As discussed previously, a business expense is valid deduction against business income when [...]
Rental Real Estate: Tax Advantages and Opportunities
From the Desk of Michael T. McCormick Rental Real Estate: Tax Advantages and Opportunities With the summer season upon us many of our clients are asking questions about the benefits [...]