The TCJA has narrowed the scope of who can claim the home office deduction. But certain business owners and self-employed taxpayers may still be eligible.
Tax planning might not be something you want to think about during the summer months. But midyear planning is important, especially this year. Here are three strategies to consider that hold up post-TCJA.
If you’re considering making a gift of income-producing or appreciated assets to a minor or a college student, beware of the big, bad kiddie tax — it’s fiercer under the TCJA.
The TCJA’s new deduction for owners of pass-through entities can be 20% of qualified business income. But a wage-based limit applies if an owner’s taxable income exceeds certain levels. Find out how the limit works.
Small-business owners can face a harsh penalty if payroll taxes aren’t remitted to the federal government. Learn about your obligations and whether you could be personally liable.
You volunteer? That's great! Assuming a charity is qualified, you may be able to deduct some of the out-of-pocket costs you incur when volunteering — but the rules are complex.
In late June, the U.S. Supreme Court expanded the ability of states to collect sales tax from out-of-state online retailers. If your business makes online sales to out-of-state customers, here’s what you need to know.
If you invest in certain green equipment at home, you can save green in the form of tax credits (not to mention the savings on energy costs going forward). Learn what qualifies and how much you can save.
“HSA,” “FSA” and “HRA” may seem like groups of letters you might spot floating in your alphabet soup. But they actually are three kinds of accounts that offer tax-advantaged funding of health care expenses. Here’s a quick comparison.
The TCJA makes major changes to the taxation of both C corporations and pass-through entities. Are pass-throughs still usually the best choice for small businesses?
After a busy winter and spring, you and your employees might be trying to take it a little easy this summer, perhaps using some vacation time or working shorter days. But don’t take it so easy that you miss these important Q3 2018 tax deadlines.
Investing in qualified small business (QSB) stock offers some attractive tax benefits, especially considering that the Tax Cuts and Jobs Act (TCJA) didn’t cut long-term capital gains rates.
If your business sponsors a 401(k) plan for its employees, it’s important to keep up with tax developments related to such plans. For example, the Tax Cuts and Jobs Act and the Bipartisan Budget Act both included 401(k) plan changes you need to know about.
Your small business may not be accepting or using bitcoin or other virtual currencies yet, but it’s still a good idea to begin familiarizing yourself with the tax consequences of this rapidly growing alternative to traditional legal tender.
Your estate plan may need a tax update in light of the Tax Cuts and Jobs Act, even if your estate is well under the new $11.18 million estate tax exemption.
Trying to decide where to retire? To avoid unpleasant tax surprises, it’s critical to consider state and local income, property, sales and estate taxes.
Have you recently been awarded restricted stock or do you expect to be awarded such stock this year? The Section 83(b) election can be beneficial if the income at the grant date is negligible or the stock is likely to appreciate significantly. Here’s why.
Pass-through business owners: When can losses be deducted? How much can you deduct in any given year? The TCJA has changed some rules, and you won’t find the changes favorable.
Unless your company has an accountable plan, reimbursements to employees for business-related expenses are subject to both income and payroll tax withholding. Consider an accountable plan, which is easy to set — and we can help.
The TCJA preserves the home sale gain exclusion, so if you’re selling your principal residence, you may be able to exclude up to $250,000 ($500,000 for joint filers) of gain. Learn more about the tax treatment of home sales.