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
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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
03
Feb
Feb
The Tax Cuts and Jobs Act (TCJA) imposed new limitations on business deductions for meals and entertainment expenses that were incurred or paid after December 31, 2017, the effective date of the applicable Tax Cuts and Jobs Act (TCJA) provisions. The Consolidated Appropriations Act of 2021 (CAA) allows a 100% deduction for certain business meal
03
Feb
Feb
For several years now, we’ve been unable to effectively employ our tax planning strategies to our own high standards due to the Government’s late action on tax laws. And this action usually came at a time when most companies should be considering the tax impact of their financial decisions. For example, there are companies who
03
Feb
Feb
A few of the tax return filing deadlines for the 2016 tax year (filed in 2017) have changed, and we wanted you to know. Below is a handy list of 2017 tax return and information form filing deadlines we’ve put together that you can download for future reference. Download 2017 tax filing deadlines as
