There have been numerous questions sent me about the deductions for meals and entertainment and for good reason. Something that was so simple was made incredibly complicated. Congress must not have a dictionary […]
Tax Planning for the New Tax Law: Part 6
Tax Planning for the New Tax Law: Part 6 Now that the standard deduction is almost doubled to $12,000 per individual or $24,000 for those who are married filing joint returns, the ability […]
Q&A with Sandy Botkin
“Sandy, you mentioned on your webinar that automobile depreciation allowance has almost tripled. In addition, we can deduct 100% of the business use of any new or used SUV or truck if it […]
News You Can Use: Healthcare Costs
Because Congress has focused on major legislation such as the new tax law and tried to override the Affordable Care Act (ACA), they did focus on federal subsidies found in the ACA, which […]
The Tax Extenders: Part 2
The Tax Extenders: Part 2 Mortgage insurance, and credit for non-business energy property. Prior to 2017, if you paid “mortgage insurance’ you could have treated it as home mortgage interest. This changed at […]
The Tax Extenders: Part 1
Now that I have finished the tax planning series that dealt with the new tax law, I will begin a short series on the bipartisan law that includes some tax extenders for one […]
Tax Planning for the New Tax Law: Part 5
Tax Planning for the New Tax Law: Part 5 Incorporate your business if you would be deemed a “specified service business.” According to Republican pundits, this new tax law is designed to not […]
Tax Planning for the New Tax Law: Part 4
Tax Planning for New Tax Law, Part 4 Because of this new tax law, most people will see an increase in their state taxes because the deductions in most states are similar to […]