The Tax Cuts and Jobs Act (TCJA) was passed into law in 2017, but its effects are still being felt years later. A number of the law’s provisions have already expired or will do so soon. The present deduction for research and experimentation (R&E) costs was one provision that ended last year. R&E Expenses Numerous
True to their name, recently created qualified opportunity zones (QOZs) may raise attractive opportunities for contractors.
The CARES Act contains a beneficial change in the tax rules for many qualified improvement properties.
The “kiddie tax” is far from child’s play. And a change made by the Tax Cuts and Jobs Act (TCJA) puts some adult teeth into the tax.
Business meal and travel expenses are still deductible if they qualify as legitimate business expenses, though the deduction for meal expenses continues to be limited to 50% in most cases.
TCJA has placed some limitations on deducting business losses. Here’s a look at the changes in the rules and how they might affect you.
The Tax Cuts and Jobs Act (TCJA) introduced a variety of tax benefits for businesses. but it placed limits on several tax breaks, including interest expense deductions.
Working from home has its perks. Not only can you skip the commute, but you also might be eligible for home office deductions on your tax return. Home office deductions for these expenses can save you a bundle, if you meet the tax law qualifications.
There’s good news about the Section 179 depreciation deduction for business property. The election has long provided a tax windfall to businesses, enabling them to claim immediate deductions for qualified assets, instead of taking depreciation deductions over time. And it was increased and expanded by the Tax Cuts and Jobs Act (TCJA). Even better, the
The Tax Cuts and Jobs Act (TCJA) dealt several blows to the nonprofit sector. One of them is that, effective January 1, 2018, nonprofit employers are subject to tax on transportation fringe benefits provided to employees. The IRS recently released Notices 2018-99 and 2018- 100 to provide guidance on this issue.