Category Archives: Tax

Claiming the New Employer Tax Credit for Family and Medical Leave

November 7, 2018

The Tax Cuts and Jobs Act (TCJA) establishes a new federal income tax credit for employers that provide qualifying paid family and medical leave benefits to their employees. This credit is only available for two employer tax years — those beginning between January 1, 2018, and December 31, 2019 — unless Congress extends the deal. Here are some FAQs about this tax break.

Tax Reform: Which Changes Are Temporary vs. Permanent?

November 6, 2018

The Tax Cuts and Jobs Act (TCJA) includes a bevy of important tax changes for individuals and businesses. However, it’s sometimes hard to keep track of which changes are permanent and which are scheduled to expire at the end of 2025 — unless Congress extends them. Here’s a scorecard to help you keep track of the permanent vs. temporary changes as the tax law currently stands.

How to Spend Tax Savings under the TCJA

September 7, 2018

Many companies expect to save money on taxes in 2018, thanks to the Tax Cuts and Jobs Act. But what’s the best way to spend the incremental cash flow? Here’s an overview of key provisions of the tax law that are favorable and unfavorable to businesses. Once a business understands the relevant provisions, management can evaluate spending options using various analytical tools.

Federal Tax News – June

June 30, 2018

1. Taxpayer denied home office deductions for storage in his garage.
2. Court allows advertising deductions but limits other write-offs.
3. Disabled veterans may be due a tax refund.
4. The IRS is offering tips for people partaking in the “sharing economy.”
5. Worker is an employee, not an independent contractor.

Category: Tax

Federal Tax News – November

December 6, 2017

1. What happens next with tax reform?
2. Court allows penalty against a chief financial officer.
3. Help keep personal information secure online.
4. Change made to the Social Security wage base.
5. Change made to the previously announced Social Security wage base.