The Tax Cuts and Jobs Act expanded the eligibility of the cash method for businesses. Usually, if a business’s receivables exceed its payables, the cash method of accounting will allow more income to be deferred …Read More

 

Investing in business assets is a traditional and powerful year-end tax planning strategy, and it might make even more sense in 2018. Sec. 179 expensing and bonus depreciation both allow an immediate deduction for the …Read More

 

TCJA Provisions: Research Credit May Be Available

If your company engages in qualified research activities, revisit the research credit to be sure you’re taking full advantage of its benefits. Changes under the TCJA could make the credit more valuable and/or available for …Read More

 

It’s getting to be that time of the year to review your business’s expenses for deductibility. The deductibility of certain expenses is obvious, while in other cases it’s unclear. And the TCJA affects many business …Read More

 

Too often, businesses allocate all or most of a building’s acquisition or construction costs to real property, overlooking opportunities to allocate costs to shorter-lived personal property or land improvements and boost current tax deductions. The …Read More

 

A cost segregation study can accelerate depreciation deductions Businesses that acquire, construct or substantially improve a building — or did so in previous years — should consider a cost segregation study. These studies combine accounting …Read More

 

The effects of the 2017 Tax Cuts and Jobs Act has a simple but large impact on the Estate Tax world. The federal exemption increased from $5.49 million per person in 2017, to $11,180,000 in …Read More

 

As the new W-4 draft is released, Froehling Anderson wanted to provide an in-depth overview of the updated draft and what you can expect in 2019. The IRS has released a draft of the 2019 …Read More

 

The Tax Cuts and Jobs Act has narrowed the range of who can claim the home office deduction. But certain business owners and self-employed taxpayers may still be eligible depending on how you use your …Read More

 

Inside Look: New QBI Deduction’s Wage Limit

The Tax Cuts and Jobs Act’s (TCJA) new deduction for owners of pass-through entities can be 20% of qualified business outcome (QBI). This deduction typically applies to income from sole proprietorships, partnerships, S corporations and, typically, …Read More