by Rupinder | Oct 17, 2018 | Uncategorized
The rehabilitation tax credit offers an incentive for owners to renovate and restore old or historic buildings. Tax reform legislation passed in December 2017 changed when the credit is claimed and provides a transition rule: The credit is 20 percent of the...
by Rupinder | Oct 12, 2018 | Uncategorized
Hurricane Michael victims in parts of Florida and elsewhere have until Feb. 28, 2019, to file certain individual and business tax returns and make certain tax payments, the Internal Revenue Service announced today. The IRS is offering this relief to any Major Disaster...
by Rupinder | Oct 4, 2018 | Uncategorized
The Internal Revenue Service issued guidance today on the business expense deduction for meals and entertainment following law changes in the Tax Cuts and Jobs Act (TCJA). The 2017 TCJA eliminated the deduction for any expenses related to activities generally...
by Rupinder | Aug 8, 2018 | Uncategorized
Notice 2018-64 proposes a revenue procedure that provides guidance on methods for calculating W-2 wages for purposes of section 199A of the Internal Revenue Code (Code) and proposed §§ 1.199A-1 through -6 of the Income Tax Regulations (26 CFR part 1) which are being...
by Rupinder | Aug 8, 2018 | Uncategorized
The IRS released the long-awaited guidance for 199-A, Qualified Business Income (QBI), this morning. This release contains proposed regulations concerning the 20% QBI deduction that impacts small businesses, individuals, partnerships, trusts and estates, and S-corps...
by Rupinder | Jul 30, 2018 | Uncategorized
The Internal Revenue Service and Department of the Treasury today announced their intent to issue regulations on three recent tax law changes affecting popular 529 education savings plans. Notice 2018-58, addresses a change included in the 2015 Protecting Americans...
