Since 2002, bonus depreciation under the Job Creation and Worker Assistance Act has been allowed in some form. Bonus depreciation allows for more current expensing for eligible property than allowed under the current...more
4/3/2018
/ Bonus Depreciation ,
Business Assets ,
C-Corporation ,
Corporate Taxes ,
Income Taxes ,
IRS ,
Net Operating Losses ,
Protecting Americans from Tax Hikes (PATH) Act ,
Section 179 Property ,
Tax Cuts and Jobs Act ,
Tax Deductions ,
Tax Planning ,
Tax Rates
The over 3,700 small brewers (defined as those producing less than 2 million barrels) in the United States had something to cheer about in the Tax Cuts and Jobs Act, which was signed into law at the end of 2017. As part of...more
The year 2017 could be described as the year of the Bitcoin and other “virtual currencies,” with Bitcoin having appreciated 1800% since the beginning of the year and Ethereum, at one point, having appreciated 8,000% since the...more
12/14/2017
/ Bitcoin ,
Capital Assets ,
Capital Gains ,
Capital Losses ,
Federal Taxes ,
Financial Reporting ,
Income Taxes ,
Investors ,
IRS ,
Tax Liability ,
Virtual Currency
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
The “plan” unveiled by the Trump administration in late April to repeal the federal estate tax was a broadly vague outline of tax reform goals. The proposed changes did not mention the federal gift tax or generation skipping...more