Taking the opposite approach: Ways your business can accelerate taxable income and defer deductions Typically, businesses want to delay recognition of taxable income into future years and accelerate deductions into the current year. But when is it prudent to do the...
HAVEN’T FILED YOUR 2019 BUSINESS TAX RETURN YET? THERE MAY BE WAYS TO CHIP AWAY AT YOUR BILL The extended federal income tax deadline is coming up fast. As you know, the IRS postponed until July 15 the payment and filing deadlines that otherwise would have fallen on...
TCJA CHANGES SOME RULES FOR DEDUCTING PASS-THROUGH BUSINESS LOSSES It’s not uncommon for businesses to sometimes generate tax losses. But the losses that can be deducted are limited by tax law in some situations. The Tax Cuts and Jobs Act (TCJA) further restricts the...
