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.

New Law Gives Eligible Pass-Through Businesses a Special Tax Break

August 24, 2018

The new tax law introduces a special deduction for eligible pass-through businesses. The deduction is generally equal to 20% of “qualified business income.” It’s designed to help achieve parity between the reduced corporate income tax rate and the tax rates for business income that passes through to individual owners of sole proprietorships, partnerships, limited liability companies (LLCs) and S corporations. Here are the details.