Tax Cuts and Jobs Act (TCJA) – Businesses

On December 22, the President signed into law the Tax Cuts and Jobs Act of 2017 (TCJA). The 503-page TCJA is the largest tax overhaul since the 1986 Tax Reform Act and it will affect almost every individual and business in the United States. Unlike the provisions for individuals, which generally expire after 2025, the […]

8 Ways Trump’s Tax Reform Info Could Change Things for Us

When it comes to his Administration’s recent release of President Tump’s tax reform info, we’re convinced that it could change things for the country. Whether that change is good or bad will depend on whose ox gets gored. The tax reform information is only a one-page explanation at this point, with few details, but read […]

3 Key Inventory Tactics for Success

Inventory Tactics for Success It is easy to get lost in the minutiae of running a business, but inventory tracking is one big aspect of supply chain management, and therefore, business success. A poorly planned inventory system can interfere with company accounting and tax records, powerful threats to longevity that no company should experience. An […]

Getting 1031 Real Estate, and Like-Kind, Exchanges Right

Tax law states that a gain made on the sale of real estate owned for business or investment purposes, is taxable, and the tax becomes due at the end of the current tax year. Fortunately, Section 1031 of the Internal Revenue Code provides an exception to this. The code allows the owner to delay, or […]

The Proper Way to Track Mileage Deduction

If you use your vehicle for business purposes then you are able to take a mileage deduction when filing your taxes. While this will save you some money, it is also sometimes a red flag to the IRS if it is not done properly. If you want to help better ensure that you are not […]

How Should You Claim Your Home Office Deduction?

Thousands of people work from home. Some of them can claim the costs of using their home against their taxes. You must know two things: Are you eligible for a home office tax deduction?  How may you claim the deduction? When you know the answers to these two questions, you may be on your way […]