Author: Joe Romano

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Spending Bill Extends Tax Breaks, Adds Retirement Account Provisions

A year-end governmentwide spending bill includes the extensions of almost all of the tax “extenders.” It also introduces the Setting Every Community Up for Retirement Enhancement (SECURE) Act, the first major retirement-related legislation since 2006.
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IRS Updates Rules for Mileage-Related Deductions

Do you or your employees deduct transportation expenses for operating an automobile for business purposes? If so, learn about recent IRS guidance on optional standard mileage rates.
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Factor 2020 Cost-of-Living Adjustments into Your Year-End Tax Planning

If you’re working on your year-end tax plan, you’d be wise to take these 2020 cost-of-living amounts into consideration.
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Business Year-end Tax Planning In A TCJA World

Allocating year-end tax planning time now can prove beneficial come tax filing time next year.
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Its Not Too Late to Trim Your 2019 Tax Bill

If you’re concerned about your 2019 tax liability, consider these year-end tax planning opportunities.
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The U.S. Department of Labor Finalizes The New Overtime Rule

The U.S. Department of Labor’s final overtime rule goes into effect on January 1, 2020. Will your company be ready?
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IRS Issues Final QBI Real Estate Safe Harbor Rules

A safe harbor for rental real estate to qualify for the qualified business income deduction is now allowed.

IRS Provides Additional Guidance On Bonus Depreciation Under the TCJA

Final IRS regulations (along with additional proposed regs) for the first-year 100% bonus depreciation deduction have been published. Do you know how they might affect your business’s tax bill?

DOL Expands Retirement Plan Options for Smaller Businesses

The U.S. Department of Labor (DOL) has released a final rule which should make it easier for smaller businesses to provide retirement plans to their employees. According to the DOL, the rule will enable more…

Congress Acts to Reform the IRS, Enhance Taxpayer Protections

The Taxpayer First Act is a wide-ranging IRS reform bill that also includes various other provisions that protect taxpayers’ rights. Here are the details.