The Internal Revenue Service released IRS Notice 2020-75 on November 9, 2020, clarifying its position on State and Local Tax (SALT) workaround laws passed by several states. In Notice 2020-75, …
Can You Deduct Entertainment & Business Meal Expenses? (Updated 2020)
(This article has been updated to reflect clarifications in the deductibility of business expenses for employee social gatherings) Wining and dining clients, prospects and business contacts has been, and continues …
Estate Planning Under the New Tax Law: Opportunities and Traps
The Tax Cuts and Jobs Act of 2017 (TCJA) is a significant tax reform measure that impacts all federal tax laws. And instead of repealing federal gift and estate taxes, …
6 Year-End Tax Strategies for Businesses
As you enter the final stretch of the year, it’s time to figure out how to limit your business’s tax liability for 2019. Make sure your year-end tax planning is …
7 Year-End Tax Strategies for Individuals
With the end of the year quickly approaching, it’s time to plan how you will limit your personal tax liability for 2019. You will want to be sure your year-end …
Everything you need to know about the Taxpayer First Act
As of July 1, 2019, the Internal Revenue Service has been put on notice. The Taxpayer First Act has been passed by Congress with bipartisan support, and signed into law …
