Small business owners: A SEP may give you one last 2017 tax and retirement saving opportunityAre you a high-income small-business owner who doesn’t currently have a tax-advantaged retirement plan set up for yourself? A Simplified Employee Pension (SEP) may be just what you need, and...
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Claiming bonus depreciation on your 2017 tax return may be particularly beneficialWith bonus depreciation, a business can recover the costs of depreciable property more quickly by claiming additional first-year depreciation for qualified assets. The Tax Cuts and Jobs Act (TCJA), signed into law in December,...
Meals, entertainment and transportation may cost businesses more under the TCJAAlong with tax rate reductions and a new deduction for pass-through qualified business income, the new tax law brings the reduction or elimination of tax deductions for certain business expenses. Two expense areas where the...
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Client Letter concerning the Latest Tax Reforms and Developments to IndividualsThe following is a summary of important tax developments that have occurred in the past three months that may affect you, your family, your investments, and your livelihood. Please call me at 856-665-2121 for more...
Your 2017 tax return may be your last chance to take the “manufacturers’ deduction”While many provisions of the Tax Cuts and Jobs Act (TCJA) will save businesses tax, the new law also reduces or eliminates some tax breaks for businesses. One break it eliminates is...
Bid to collect internet sales tax gets U.S. Supreme Court review | Tax Pro TodayIt is easy to go after US-based businesses, even the small companies that remain in business trying to comply with the 8,000 different Sales Tax collection rates and jurisdictions. So, yes,...
New tax law gives pass-through businesses a valuable deductionAlthough the drop of the corporate tax rate from a top rate of 35% to a flat rate of 21% may be one of the most talked about provisions of the Tax Cuts and Jobs Act (TCJA),...
The TCJA temporarily expands bonus depreciationThe Tax Cuts and Jobs Act (TCJA) enhances some tax breaks for businesses while reducing or eliminating others. One break it enhances — temporarily — is bonus depreciation. While most TCJA provisions go into effect for the 2018 tax year,...