132 results found.
... July 2018 TCJA Changes Affecting Partnerships and LLCs and Their Owners The Tax Cuts and Jobs Act (TCJA) includes several changes that affect both partnerships and their partners and LLCs and their members that are treated as partnerships for tax purposes. Most of the changes are good news. Here's what you need to know. ...
01 Jul 2018
... August 2021 2021 Tax Loss Nightmare: Return of the TCJA NOL Rules When Congress passed the Tax Cuts and Jobs Act (TCJA) back in 2018, it reduced your ability to make use of your tax losses. Due to COVID-19, Congress retroactively suspended these changes for tax years 2018, 2019, and 2020 ...
01 Aug 2021
... May 2019 TCJA Allows Bonus Depreciation on Purchase of Leased Vehicle Before the Tax Cuts and Jobs Act (TCJA), your purchase of the vehicle you were leasing did not qualify for either Section 179 expensing or bonus depreciation. But times have changed. Now, thanks to the TCJA, your deduction possibilities have increased ...
01 May 2019
... December 2019 TCJA Changes Vacant Land Tax Strategies Do you own a vacant lot or other unproductive land? If so, you need to know that the Tax Cuts and Jobs Act (TCJA) has impacted every cost you incur to carry that vacant lot or land investment. You likely need new strategies, at least ...
01 Dec 2019
... November 2018 How the TCJA Tax Reforms Hammer Personal Casualty Loss Deductions So far this year, we've had hurricanes Florence and Michael, severe storms and flooding, and wildfires throughout the West, all causing lost lives and billions in property damage. Last year, we had back-to-back hurricanes Harvey and Irma, which caused lost ...
01 Nov 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) has favorable changes that you need to know about. Here's the story. Lower Ordinary Income Tax Rates for 2018-2025 If you own property as an individual or via ...
01 Mar 2018
... July 2018 Be Alert to the TCJA Tax Reform Attack on IRA Recharacterizations When you convert a traditional IRA into a Roth IRA and then reverse the transaction by switching the account back to traditional IRA status, the reversal is called a recharacterization in IRS-speak. If you had a sizable accumulation in your traditional IRA, the ...
01 Jul 2018
... June 2018 Tax Reform (TCJA) Expands Your Section 179 Deduction Privilege If you own a small to medium-sized business, you likely already know that the Section 179 first-year depreciation deduction is a nice break, because it potentially allows you to write off some or maybe all of your qualified asset additions in Year 1. ...
01 Jun 2018
... regulations that follow a model set by the American Institute of CPAs, or the Joint Committee on Taxation in its explanation of the Tax Cuts and Jobs Acts (TCJA) states that client and business meals continue as deductions, or lawmakers enact a new tax code section that authorizes client and business meal deductions. How big ...
01 May 2018
... January 2019 TCJA Tax Reform Sticks It to Business Start-Ups That Lose Money There's a provision in the Tax Cuts and Jobs Act (TCJA) tax reform that hurts business start-ups and struggling business owners. And no one is really talking about it. This rule prevents you, the business owner, from using all your ...
01 Jan 2019
