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... February 2018 Yes, Tax Reform Did Kill Prospect and Client Meal Deductions We received many emails about our January article Tax Reform Wipes Out 50 Percent Business Entertainment Deductions. One such email from a CPA member stated that she had attended four continuing education courses on tax reform and that in each of the courses, the ...
01 Feb 2018
... March 2018 Tax Reform Puts Screws to Hobbies In an article in Tax Notes titled "Potential Pitfalls for Direct Sellers," author Monika Turek states that 15.2 ... Article for Use by Tax Pros. Click Here. 1 Tax Notes, January 22, 2018, p. 513. 2 IRC Section 61(a) ...
01 Mar 2018
... March 2018 Tax Reform Does Much to Help Your Rental Real Estate If you own rental real estate, the new Tax Cuts and Jobs Act (TCJA) ... of 12% bracket 9,526 19,051 13,601 Beginning of 22% bracket 38,701 77,401 51,801 Beginning of 24 ...
01 Mar 2018
... January 2018 Tax Reform Wipes Out 50 Percent Business Entertainment Deductions Lawmakers destroyed a big chunk of usual and normal business entertainment on January 1, 2018. The good news is that some not-so-usual and not-so-normal entertainment survived the bloodletting. See Tax Reform: Entertainment Deductions That Survived for some of the survivors. The bad news ...
01 Jan 2018
... April 2018 Tax Reform Makes Professional Gamblers Who Lose Money Suffer More If you are a professional gambler and you have a bad year, your bad year just ... 199A deduction is $110,000, and 20 percent of that is $22,000. His Section 199A deduction is the lesser of $22, ...
01 Apr 2018
... April 2018 Good News: Tax Reform Lands a Blow to AMT The recently passed Tax Cuts and Jobs Act cuts federal income taxes for almost everyone. But you may have to worry about the alternative minimum tax (AMT). The AMT is a parallel tax system, and if your AMT liability is higher than ...
01 Apr 2018
... April 2024 Tax Reform Doubles Down on S Corporation Reasonable Compensation For tax years 2018-2025, the Tax Cuts and Jobs Act (TCJA) tax reform gives you ... then his reasonable compensation would be $60,000. John is in the 22 percent tax bracket and not subject to any Section 199A limitations. To figure ...
01 Apr 2024
... February 2018 Tax Reform Cuts Business Tax Deductions for Charity Golf Outings You likely know that tax reform did away with business tax deductions for prospect and client golf ... Jan. 6, 2017, p. 12. 6 Ibid, p. 22. ...
01 Feb 2018
... April 2018 S Corporation Fringe Benefits after the Recent Tax Reform Fringe benefits are usually a good thing — but there's a catch when you own more than 2 ... 15-B, Employer's Tax Guide to Fringe Benefits (2018), Dated Feb. 22, 2018, p. 13. The wages are also subject to FUTA ...
01 Apr 2018
... May 2018 Four Ways to Deduct Your Legal Fees after Tax Reform Tax reform made it more difficult to deduct your legal fees when it suspended a key tax ... :8 Section 21F of the Securities Exchange Act of 1934 (15 U.S.C. 22 78u-6), a state law relating to false or fraudulent claims that meets ...
01 May 2018
