We are Tax Reform Advisors

We are Tax Reform Advisors February 6, 2019 The Tax Cuts and Jobs Act (TCJA), passed in December 2017, has been highly advertised as a simplification to the income tax preparation and filing process. In fact, the TCJA is the largest tax overhaul since the 1986 Tax Reform Act and has complicated the process of

TCJA changes to employee benefits tax breaks: 4 negatives and a positive

The Tax Cuts and Jobs Act (TCJA) includes many changes that affect tax breaks for employee benefits. Among the changes are four negatives and one positive that will impact not only employees but also the businesses providing the benefits.

Meals, Entertainment and Transportation May Cost Businesses More Under the TCJA

Along with tax rate reductions and a new deduction for pass-through qualified business income, the new tax law brings the reduction or elimination of tax deductions for certain business expenses. Two expense areas where the Tax Cuts and Jobs Act (TCJA) changes the rules — and not to businesses’ benefit — are meals/entertainment and transportation.

What are the most tax-advantaged ways to reimburse employees’ education expenses?

Reimbursing employees for education expenses can both strengthen the capabilities of your staff and help you retain them. In addition, you and your employees may be able to save valuable tax dollars. But you have to follow IRS rules.

Ensure Consistency Between Your Website and Your Form 990 To Avoid IRS Issues

A basic area of interest to the IRS are the programs your organization offers. Tax exempt status was granted, in large part, based on your programs detailed to the IRS. You should see if the program descriptions in Part III

Why Nonprofits Need Continuity Plans

Most not-for-profits are intensely focused on present needs — not the possibility that disaster will strike sometime in the distant future. Yet it’s critical that all organizations have a formal continuity