The biggest thing you hear in the news today is that individuals are getting lower refunds on their 2018 Returns compared to prior years.
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Topics: brixey and meyer, tax reform, Tax Team, Tax, New Year, 2018, 2018 Tax Return, Steve Hood
The Internal Revenue Service issued the 2019 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes.
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Topics: Takeaways, brixey and meyer, Tax updates, Tax Team, Tax, Mileage, New Year
On Wednesday of last week, the IRS issued long awaited guidance clarifying that taxpayers may generally continue to deduct 50% of the food and beverage expenses associated with operating their trade or business, despite changes to the meal and entertainment expense deduction under the Tax Cuts and Jobs Act.
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Topics: Takeaways, brixey and meyer, Tax updates, Tax Team, Tax, tax reform, meal deduction, Steve Hood