Business net operating losses can provide valuable tax benefits. The rules, however, have always been complicated, and the TCJA has complicated them further.
By filing optional IRS Form SS-8, a business can find out if a worker will be classified as an employee or independent contractor for tax purposes. This could avoid back taxes, interest and penalties, but it also could produce undesirable consequences.
Today many people provide some financial support to an elderly parent. If you’re among them, you might qualify for a tax break on your 2017 or 2018 return. But the available break depends on the year.
Does the April 17 filing deadline apply to your company? What additional tax deadlines are there for businesses and other employers during the second quarter of 2018? Find out!
Are you a homeowner? Then home-related tax breaks may provide significant savings on your 2017 return. But the tax-saving outlook isn’t as rosy for 2018.
There had been some concern that tax reform would include the elimination of tax-deferred like-kind exchanges. The good news is that the TCJA still generally allows them for real estate. But there are limits you need to be aware of.
A disaster, fire or theft last year may mean a 2017 income tax deduction, and claiming it may be easier for certain natural disaster victims. But availability of this break narrows for 2018. Here’s what you need to know.
We are pleased to offer new flexible ways to pay for your NMS services. From now on, our new secure online payment portal link will be located at the bottom of your invoice and reminder statements!
December’s Tax Cuts and Jobs Act preserves the charitable deduction. But you still might find that you don’t enjoy the same tax benefits from charitable giving in 2018 as you do
on your 2017 return.
March doesn’t mean just St. Patty’s Day and college basketball madness. It also means an important tax deadline for partnerships, S corporations and certain LLCs.
Miles driven for certain purposes can be tax deductible. But the rules are complex. And under the TCJA you may not be able to deduct some types of mileage expenses on your 2018
return that are deductible on your 2017 return.
Sec. 179 expensing allows eligible taxpayers to deduct the entire cost of qualifying business property in Year 1, subject to various limitations. Here’s what you need to know.
If you moved in 2017, you might be able to deduct some of your moving expenses on your 2017 tax return. Unfortunately, if you move in 2018, it’s a different story.
It’s not too late for business owners to set up a retirement plan for 2017 and save tax when they file their 2017 return. How? With a Simplified Employee Pension (SEP).
The recently passed Bipartisan Budget Act of 2018 included an extension of the tuition and fees deduction. But that may not be the best higher-education break to claim on your
2017 return.
Bonus depreciation is available for qualified property such as office furniture and equipment. 2017 may be an especially good year to take bonus depreciation on your tax return. Here’s why.
Providing employee benefits can help businesses attract and retain the best workers. But the cost can be out of reach for some small businesses. Two tax credits can help make benefits more affordable.
The sales tax deduction can be valuable if you reside in a state with no or low income tax or purchased a major item, such as a car or boat. Can it reduce your 2017 tax bill?
Maybe. 2018 savings are more uncertain.