The passing of the Tax Cuts and Jobs Act led to many questions about your bottom line last tax season. With one year behind us, we look forward to moving into this tax season with more clarity and confidence to manage the effects of the reform for both individuals and businesses.
Victims of the severe storms, straight-line winds, tornadoes, flooding, and landslides that took place on May 27, 2019 in Ohio may qualify for tax relief from the Internal Revenue Service.
After months of negotiations, Governor Mike DeWine signed Ohio's FY 2020-2021 general operating budget, and the following are a few key points that may impact you or your business:
Marked by turbulent trade conditions, a shifting retail landscape, continued fallout over tax reform and the accelerated growth of coworking companies, 2018 was an eventful year for the real estate and construction industries.
A variety of forces are at play in 2019. The IRS will continue to release additional guidance on provisions introduced via tax reform, the future of the U.S. trade policy is uncertain and interest rates will likely rise again.
The reality of tax reform and its effects on current year income and deductions will soon be evident as we move into the 2018 tax filing season. Though questions remain, there are steps which can be taken prior to year-end to take full advantage of the new provisions and avoid some of the pitfalls. We've compiled some of those steps for both individuals and business owners. You can download those below.
The 2017 Tax Cuts and Jobs Act made significant changes with respect to the deductibility of business meal and entertainment expenses. One of the biggest changes is the deductibility of entertainment expenses.
The Internal Revenue Bulletin 2018-10 was released March 5, and the Internal Revenue Service (IRS) described changes to the limit on health savings accounts (HSAs) as prescribed by the Tax Cuts and Jobs Act of 2017.
Our team has prepared a summary of key provisions from the Tax Cuts and Jobs Act (“Act”) which became law December 22, 2017.
Please click HERE to view those provisions.
Even though the specter of tax reform is looming large and it appears that a bill will be passed before year-end, most of the new provisions will not be effective until 2018.