You may recall before the 2017 Tax Cut and Jobs Act, you were able to deduct your state and local taxes on your individual tax return. The 2017 Tax Cut and Jobs Act imposed a deduction limit of $10,000 of state and local taxes on your personal tax return. This has been referred to as
Category Archives: Advisory|Tax
Advisory, Advisory|Strategic Guidance|Uncategorized, Advisory|Strategic Guidance|Value Building, Advisory|Tax, Strategic Guidance|Tax, Tax, Uncategorized
What do changes in depreciation rules mean for me in 2022-2023?
15
Jun
Jun
Most taxpayers have gotten very used to taking 100% bonus depreciation. Most of the time, people have been getting used to taking 100% bonus and writing off whatever they’re spending on capEx. This has been the case since the Tax Cuts and Jobs Act in 2017 – the Trump tax cuts. You may be thinking
Thanks to the tax laws enacted late 2015, your company’s tax liabilities can actually be viewed as a controllable expense, rather than something over which you have no control whatsoever. For the past several years, the uncertainty with regards to tax laws cast a long shadow and hindered our ability to undertake proper, effective tax