Tax Cuts and Jobs Act of 2017

image

Final Guidance on the Pass-Through Deduction

The final details on the new 20% pass-through deduction for business owners answers many of your questions.

image

Tax Reform: Are Your Parking Expenses Deductible?

The IRS has provided additional guidance regarding changes that the Tax Cuts and Jobs Act (TCJA) made to the tax treatment of parking fringe benefits. 

image

Mississippi Conformity

The Tax Cuts and Jobs Act celebrated its first birthday as federal tax law on December 22, 2018, Mississippi began issuing the final guidelines on its conformity with the changes found within the Tax Cuts and Jobs Act.

image

Tax Reform: Conversion from S Corporation to C Corporation

Significant changes made by the Tax Cuts and Jobs Act (TCJA) was to slash the top C corporate tax rate from 35% to a permanent flat 21% effective January 1, 2018.

image

Tax Reform: Want to Grab Lunch?

Expenses for entertainment, amusement and recreation are no longer deductible starting in 2018. However, the wording in the TCJA was unclear on whether meals are now included in the overall definition of “entertainment.”

image

Tax Reform: Do You Want the Good News About Depreciation First?

The Tax Cuts and Jobs Act (TCJA) made several significant changes to depreciation rules when it became law in December 2017.  In addition to the longer recovery period, the new law and related guidance have created some uncertainty over what improvements may qualify for the same-year recovery provisions.

image

Tax Reform: Time To Change Entity Structure? Maybe Not

Tax Cuts and Jobs Act (“TCJA”) made healthcare providers wonder if there might be a tax advantage to changing their choice of entity. Here are a few questions to ask before you consider any restructuring.

image

TAX Reform: IRS Limits Tax Strategies for Pass-Through Healthcare Entities

In 2018, the IRS released proposed regulations addressing the Section 199A deduction, commonly known as the 20 percent pass-through deduction. The guidance clarified several aspects of Section 199A that are of particular interest to healthcare providers.

image

Selected State Responses to the TCJA of 2017

The federal tax reform package has many far-reaching effects for businesses. While the reforms only address federal taxes, the implications will also affect a large number of states depending on how strongly state relies on the federal law for its own tax revenue.

image

Tax Reform is Coming to Town

The largest re-write of US tax law in over 30 years is now complete. Most of these provisions are in effect starting January 2018, it is important now to understand the major changes for end-of-the-year tax planning.

image

WOTC and R&D Made the Cut

Major changes to the current tax law occurred with the Tax Cuts and Jobs Act including credits and deductions for both individuals and businesses.

image

Is That Meal Deductible?

Meals and entertainment expenses have always been popular deductions for business owners, check out the new guidelines in the Tax Cuts and Jobs Act.