by Joan Buchman Miller | Jun 25, 2018 | income tax
The Tax Cuts and Jobs Act makes changes to the general business credit by adding a new component credit for paid family and medical leave which is available to eligible employers for wages paid to qualifying employees on family and medical leave. The credit is...
by Joan Buchman Miller | Feb 12, 2018 | income tax, tax planning
Meal, entertainment and fringe benefit changes. There are five changes to note in this area, all effective for amounts incurred or paid after Dec. 31, 2017: (1) Deductions for business-related entertainment expenses are disallowed. (2) The 50% limit on the...
by Joan Buchman Miller | Feb 5, 2018 | depreciaion, income tax, tax planning
Today we highlight a few of the tax changes that apply in 2018 to businesses. Corporate tax rate reduced. For tax years beginning after Dec. 31, 2017, the corporate tax rate is a flat 21% rate. Dividends received deduction percentages reduced. For tax years beginning...
by Joan Buchman Miller | Jan 29, 2018 | income tax, tax planning
Last week we discussed a few of the provisions of the game-changing 2017 tax reform. We continue the discussion this week with some additional highlights of the tax changes that apply in 2018. ABLE account liberalizations. Effective for tax years beginning after Dec....
by Joan Buchman Miller | Jan 24, 2018 | income tax, tax planning
2017 Individual Income Tax Reform The new tax year is a true game-changer for taxpayers as many decades-old tax rules have been repealed or suspended and many new ones are going into effect. Below is a brief summary of a few of the changes. Revised income tax rates...
by Joan Buchman Miller | Nov 27, 2017 | income tax, tax planning
A little more detail on what to expect if a major tax law is enacted this year. Although both the House and Senate have tax bills in process, it is by no means a sure bet. So keep a close eye on the news because we can’t be positive of any change until the ink is dry...