Done By The Book Taxes. . . you know it’s done right!
The tax law passed and signed in December 2017 (Tax Cuts and Jobs Act) for 2018 affects: Corporations Depreciation Employers Excess Business Loss and NOL’s Individuals New Business Income Deduction Retirement and Other Savings Accounts Visit the By The Book Taxes...read more
There were many tax provisions that expired as of December 31st, 2016 which meant that they were not available for tax year 2017. These provisions were not extended in the Tax Cuts and Jobs Act legislation that President Trump signed into law on December 22nd, 2017....read more
The Tax Cuts and Jobs Act of 2017 legislation passed into law on 12-22-17 has a provision in it that allows for a reduction in taxable income for self-employed individuals who are sole proprietors or who have incorporated themselves as LLC’s, subchapter S-Corp’s or...read more
The Deceased Spouse Unused Exemption (DSUE) is a little known and often overlooked provision in the tax code in the Estates and Trusts area. Each taxpayer (in a marriage) is allowed the current tax year (for 2017) estate tax exclusion of $5.49MM, so if the proper tax...read more
Most of the provisions of the recent tax legislation passed by Congress called the “Tax Cuts and Jobs Act 2017” go into effect beginning on January 1st of 2018 (tax year 2018). There are others, like the tax treatment of alimony for divorce or separation agreements...read more
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