Tag Archives: Tax Cuts and Jobs Act
Winners and Losers of the Tax Bill
March 2019
In 2018 when President Trump and the Republican Congress rewrote the tax code, everyone knew there would be winners and losers. Exactly how this will play out is just starting to be seen – it closes loopholes while … Continue reading
New Proposals for Government Programs
The Tax Cuts and Jobs Act delivered a wealth of benefits for taxpayers at every income level, but none more so than for the very rich. The net result of huge tax breaks for both high-income and corporate taxpayers is … Continue reading
5 Tips for First-Time Tax Filers
February 2019
Filing taxes for the first time can be overwhelming. But if you have the right tools and advice before you start, it won’t be. Here are a five critical things to know before you begin, which will make … Continue reading
New York State Will Not Follow New Federal Tax Law
The NYS Department of Taxation and Finance issued a Technical Memorandum on Dec 28, 2018 highlighting the State’s decoupling from certain provisions of the federal Tax Cuts and Jobs Act of 2017. Unlike prior years, your 2018 New York State … Continue reading
Take Your Clients to Dinner
In a notice released on October 3, 2018, the IRS clarifies that taxpayers may continue to deduct 50% of food and beverage expenses associated with their trade or business.
The Tax Cuts and Jobs Act (TCJA) amended IRC Code Section … Continue reading
Tax Reform 2.0
The House Republicans recently introduced legislation that, bundled together, is being referred to as Tax Reform 2.0. Expanding on the Tax Cuts and Jobs Act (TCJA), it’s composed of three main bills that intend to address some of the most … Continue reading
Yay, More Take Home Pay! Wait, Possible Tax Penalties!
The new tax laws made by the Tax Cuts and Jobs Act, include significant shifts in the tax brackets of U.S. taxpayers. Due to these changes, the IRS has updated its income-tax withholding tables for 2018. While you may … Continue reading
Self-Employment Deductions Under the New Tax Law
The new Tax Cuts and Jobs Act, which went into effect on Jan. 1, has sent an unambiguous message that the current GOP-dominated Congress and Presidential Administration are decidedly pro-business. Fortunately, they included provisions in the new legislation that enhance … Continue reading
This Year’s Fuel for Economic Growth
March 2018
There are several factors expected to help fuel the economy through 2018. The first is government intervention through fiscal policy.
Congress passed the Tax Cuts and Jobs Act at the end of 2017. This legislation offers a plethora … Continue reading