R&D Credits are Alive and Kicking in the TCJA!
Many of the changes brought about by the Tax Cuts and Jobs Act (TCJA) can benefit taxpayers already claiming the credit for increasing research activities (as well as those who [...]
Safe Harbor for Real Estate QBID Deductions: Finalized Rules
The IRS last month finalized new rules (Rev. Proc. 2019-38) regarding the safe harbor for treating a rental real estate enterprise (RREE) as a trade or business. This classification allows [...]
Nonprofits and the Taxpayer First Act: What You Need to Know
The Taxpayer First Act (HB 3151) cleared the way for reforms aimed at improving the tax return process for taxpayers. However, it also introduces some new protections and requirements for [...]
ERISA Rules: Pre-Tax Benefits Aren’t Always Pre-Tax
If you offer benefit plans as a pre-tax perk for your employees, pay attention. Because if they don’t meet criteria cited by the Employee Retirement Income Security Act (ERISA), you [...]
Breaking News: IRS Waiving Estimated Tax Penalties on 2018 Returns
If you owed (or will owe) on your 2018 individual return, good news: The Internal Revenue Service (IRS) is automatically waiving estimated tax penalties for hundreds of thousands of filers [...]
Big News on Bonus Depreciation: New Flexibility!
The IRS has issued new guidance on bonus depreciation under the Tax Cuts and Jobs Act (TCJA) that provides multiple options on the amount of the deduction you take. The [...]