With the basic exclusion amount at $11.18 million and growing, along with portability of a decedent’s unused exclusion, most individuals will not have a federal estate tax liability.
With the new tax law in full effect, it’s a good idea to reexamine your federal tax withholding for this and future years.
The Tax Cuts and Jobs Act (TCJA) made several changes to the automobile provisions, which results in various increased benefits for business owners.
Tax planning is a year-round effort, but as the end of the year approaches and your income and deductions become more evident, it is a good time to take a final look at where you stand and what you can do to minimize your 2018 tax liability.
Meals and Entertainment has a long history as targets for perceived (or not) abuse by businesses and taxpayers which in turn brought scrutiny from the IRS.
Final regulations have been released providing guidance concerning substantiation and reporting requirements for cash and noncash charitable contributions.
Last summer I wrote a blog entitled, “So You Are Changing Jobs, Are You Forgetting Something?
Prior to a recent U.S. Supreme Court ruling, the standard to determine “substantial nexus” for sales tax purposes was based on “physical presence” as provided in Quill v. North Dakota.
Posted by Valerie Middlebrooks, CPA NOL Deduction – Under the old law NOL utilization was not subject to limitations based on taxable income. Under the new law NOL utilization will be limited to 80% of taxable income. Also under old law NOL’s could be carried back 2 years and forward for 20 years. Under the new law NOL’s can no … Continued
The Tax Cuts and Jobs Act lowered the corporate income tax from a maximum rate of 35% to a flat rate of 21% beginning in 2018.