The federal government is helping to pick up the tab for certain business meals. Under a provision that’s part of one of the COVID-19 relief laws, the usual deduction for […]
Category: TCJA (Tax Cuts & Jobs Act)
Deciding Between Cash And Accrual Accounting Methods
Small businesses may start off using the cash-basis method of accounting. But many eventually convert to accrual-basis reporting to conform with U.S. Generally Accepted Accounting Principles (GAAP). Which method is […]
3 Steps To A More Financially Resilient Future
It’s a new year with new opportunities for your not-for-profit to boost its financial resilience. Although COVID-19 continues to make forecasting difficult, your staff and your board’s finance committee can […]
Converting A Traditional IRA To A Roth IRA Can Benefit Your Retirement And Estate Plans
Retirement planning and estate planning often go hand in hand: The more you save in retirement, the more you’ll have to pass on to the next generation. If you currently […]
Get Your Piece Of The Depreciation Pie Now With A Cost Segregation Study
If your business is depreciating over a 30-year period the entire cost of constructing the building that houses your operation, you should consider a cost segregation study. It might allow […]
Seniors May Be Able To Write Off Medicare Premiums On Their Tax Returns
Are you age 65 and older and have basic Medicare insurance? You may need to pay additional premiums to get the level of coverage you want. The premiums can be […]
Review Your Estate Plan In Light Of A New Presidential Administration
As President-elect Joe Biden moves forward with the transition and prepares for the inauguration next month, you may be wondering how the federal estate tax may be affected. During the […]
Small Businesses: Cash In On Depreciation Tax Savers
As we approach the end of the year, it’s a good time to think about whether your business needs to buy business equipment and other depreciable property. If so, you […]
CARES Act Made Changes To Excess Business Losses
The Coronavirus Aid, Relief and Economic Security (CARES) Act made changes to excess business losses. This includes some changes that are retroactive and there may be opportunities for some businesses […]