IRS Issues Guidance on New Bonus Depreciation Rules

August 15, 2018

The Tax Cuts and Jobs Act (TCJA) significantly expands bonus depreciation under Section 168(k) of the Internal Revenue Code for both regular tax and alternative minimum tax (AMT) purposes. Now, the IRS has released proposed regulations that clarify the requirements that businesses must satisfy to claim bonus depreciation deductions. Although the regs are only proposed […]


Is more tax reform on the horizon?

July 30, 2018

President Trump and Republican lawmakers currently are considering a second round of tax reform legislation as a follow-up to last year’s Tax Cuts and Jobs Act (TCJA). As of this writing, there’s been no actual bill drafted. However, House Ways and Means Committee Chair Kevin Brady (R-TX) just released a broad outline or framework of […]


Does Your Buy-Sell Agreement Need Updating?

If you own a business and follow professional advice, you’ve likely established a buy-sell agreement in case you or a co-owner voluntarily or involuntarily leaves the company. Assuming this is true, remember that it’s not enough to draft an agreement and put it in a safe place. You need to review and perhaps revise the document […]


Is Your Website ADA Compliant? Take a Look at these Standards

Is a company’s website a place of public accommodation? That question is the key test of whether a business is subject to the Americans with Disabilities Act (ADA). The Department of Justice (DOJ), which enforces the ADA, hasn’t issued detailed regulations on the subject at this time. But, the DOJ stated, “the fact that the regulatory […]


The ABCs of Higher Education Tax Breaks

The Tax Cuts and Jobs Act (TCJA) includes many changes that affect individual taxpayers. But, in terms of tax breaks for higher education, the new tax law generally maintains the status quo, with a few minor tweaks here and there. Here’s the rundown on education-related tax breaks for 2018 and beyond. TCJA Eliminates Employee Deductions for […]


Supreme Court Opens Door to Taxation of Online Sales

June 25, 2018

In a much-anticipated ruling that confounded the expectations of many court watchers, the U.S. Supreme Court has given state and local governments the green light to impose sales taxes on out-of-state online sales. The 5-4 decision in South Dakota v. Wayfair, Inc. was met by cheers from brick-and-mortar retailers, who have long believed that the […]


Turn Your Website into a Marketing Magnet

June 12, 2018

Turn Your Website into a Marketing Magnet   Generally your company’s website really has only one purpose — to sell. And that means you need to attract as many potential customers as possible while maintaining your current clientele. In reality, people are always searching for your business — or at least, the types of products and/or […]


How the Tax Law Hits Charitable Giving

How the Tax Law Hits Charitable Giving For charitable donors, the Tax Cuts and Jobs Act (TCJA) giveth and it taketh away. Here’s what charity-minded individuals need to know. Increased Charitable Deduction Limit Under prior law, deductions for cash contributions to public charities and certain private foundations were limited to 50% of your adjusted gross income […]


Watch Out for these Tax Issues When Planning for Your Business in 2018

Watch Out for these Tax Issues When Planning for Your Business in 2018 The Tax Cuts and Jobs Act makes sweeping changes. But some of the new provisions won’t necessarily be relevant to your situation. Here’s a quick reference guide to the major changes under the new law to help you understand what’s changing. In general, […]


Insuring Employees Who Drive Their Own Cars

May 30, 2018

In many companies, employees drive during the course of their jobs — to make deliveries, call on customers or pick up supplies. In some cases, they use their own cars, which can offer you several advantages, including that you don’t: Have to maintain a fleet. Worry about non-employees driving the cars, and the employee’s personal auto […]