The coronavirus (COVID-19) outbreak — officially a pandemic as of March 11 — has prompted global health concerns. But you also may be worried about how it will affect your business and its financial statements for 2019 and beyond.
The IRS opened the 2018 income tax return filing season on January 28. Even if you typically don’t file until much closer to the April 15 deadline, this year consider filing as soon as you can. Why? You can potentially protect yourself from tax identity theft — and reap other benefits, too.
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
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.
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.
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.
Retirees often need money from their investment portfolio, especially if they have little or no earned income. For many seniors, tax-efficient withdrawals require two levels of decisions.
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