Jan 25, 2018 | Helpful Articles, Latest Tax Developments
The time to find out expenditures are no longer tax deductible is before the money is spent, not when the receipts are totaled at year end. To that end, there has been a major change in allowable deductions beginning in 2018 for meals and entertainment expenses. Tax...
Jan 4, 2018 | Latest Tax Developments
It’s now 2018, and a raft of changes to the tax code are in effect – including updates to income tax brackets. The Tax Cuts and Jobs Act, signed into law by President Donald Trump in December, maintains the same seven-bracket structure that was in force...
Dec 20, 2017 | Latest Tax Developments
On Friday December 15th Congress blessed the American taxpayers with a tax bill reconciled from two similar, yet distinctly different, bills passed separately in the House and Senate. The reconciled draft legislation was passed by the Senate on Tuesday, December...
Dec 4, 2017 | Helpful Articles, Latest Tax Developments
The senate narrowly passed its version of the tax reform in the early hours of Saturday morning. There were numerous last minute adjustments that differed from the initial draft bill, as well as the house bill. Because of the numerous differences between the house and...
Nov 10, 2017 | Latest Tax Developments
Thursday saw two developments in the tax reform legislative process. The Senate Finance Committee released a proposed tax reform bill, the Tax Cuts and Jobs Act, and the House Ways and Means Committee issued a revised version of H.R. 1, the bill it first introduced...
Nov 7, 2017 | Latest Tax Developments
Details were revealed yesterday on the new tax reform legislation. The bill features new tax rates, a lower limit on the deductibility of home mortgage interest, the repeal of most deductions for individuals, and full expensing of depreciable assets by businesses....
