Since the Tax Cuts and Job Act of 2017 (TCJA) was passed, a little-known deduction for unreimbursed partner’s expenses (UPE) has taken on more significance.
Partner’s in partnership and members of an LLC often incur...more
1/26/2021
/ Business Expenses ,
Income Taxes ,
Itemized Deductions ,
Limited Liability Company (LLC) ,
Operating Agreements ,
Out-of-Pocket Expenses ,
Partnership Agreements ,
Partnerships ,
Tax Cuts and Jobs Act ,
Tax Deductions ,
Tax Returns
Since it began in 2012, Giving Tuesday, the Tuesday after Thanksgiving, has become more and more popular. A recent survey suggests that 62% of Americans plan to participate this year.
The main purpose behind Giving Tuesday...more
Since the MGM casino opened in August, gamblers have reportedly wagered more than $428 million on MGM Springfield’s slot machines that generated about $40 million in revenue for MGM and reportedly another $18.5 million in...more
The Tax Cuts and Jobs Act of 2017 (“TCJA”) made substantial changes to the Tax Code of 1986 by reducing tax rates and “simplifying” tax compliance for many by significantly increasing the standard deduction and eliminating...more
11/9/2018
/ HELOC ,
Home Equity ,
Home Equity Line of Credit ,
Homeowners ,
Income Taxes ,
Interest Payments ,
IRS ,
Itemized Deductions ,
Mortgage Interest ,
Tax Code ,
Tax Cuts and Jobs Act ,
Tax Deductions ,
Tax Rates ,
Tax Reform ,
Tax Returns
If Congress is successful in lowering tax rates for at least some taxpayers in 2018, there are several year-end taxing-saving tips to consider prior to December 31st....more
12/6/2017
/ Alternative Minimum Tax ,
Bonuses ,
Charitable Donations ,
Flexible Spending Accounts ,
Homeowners ,
Income Taxes ,
Itemized Deductions ,
Mortgage Interest ,
State Taxes ,
Stocks ,
Tax Deductions ,
Tax Deferral ,
Tax Planning ,
Tax Reform ,
Taxable Distributions ,
Taxable Income
It is estimated that less than 20% of those affected by Hurricane Harvey, and a week later Hurricane Irma, had flood insurance. Home owner’s and renter’s insurance policies exclude damage caused by floods. Those affected...more
9/14/2017
/ Casualty Insurance ,
Construction Loans ,
Flood Insurance ,
Homeowners ,
Hurricane Harvey ,
Hurricane Irma ,
Income Taxes ,
Itemized Deductions ,
Loss Coverage ,
Natural Disasters ,
Property Damage ,
Property Insurance ,
Rental Property ,
Severe Weather ,
Tax Deductions