The TCJA that was passed in 2017 significantly reduced the corporate tax rate and introduced the Qualified Business Income Deduction (QBID).The QBI deduction makes it possible to reduce...
Posted by Elliot Kravitz, ATP on 11/24/2020
All the cost you incur while on a business trip away from home qualifies you for an impressive business expense deduction. There are, however, a lot of rules you must follow, or you...
Posted by The TaxAdvocate Group, LLC on 11/24/2020
After the publication of the TCJA, it was evident that several areas of the new law needed clarification. One of the laws that need clarification is the meal and entertainment expenses...
There is some tax relief from the CARES Act to help charitable organizations cushion the coronavirus's effect. This tax relief aims to encourage donors for the 2020 tax return...
Posted by Dennis Jao on 11/24/2020
The standard mileage rate, also known as daily mileage or deductible mileage, is a rate set by the Internal Revenue Service (IRS) per mile maintained by a taxpayer for business purposes...
Posted by Karen Munoz, EA on 11/24/2020
Also known as REIT, a real estate investment trust is known as a mutual fund for real estate. From the name, one can infer that the trust invests in investments related to real estate....
Posted by Flynn Financial Group Inc on 11/24/2020
Background. Effective for each tax year beginning after December 31, 2017, an ATEO is generally subject to a special tax (currently 21%) on the amount of any employee's overcompensation...
Posted by CORE PERFORMANCE on 11/24/2020
The standard deduction can help you deduct thousands of dollars from your taxable income. What is it, and how do you claim it?It is never too late to start thinking about how you plan...
Posted by Unifirst Financial & Tax Consultants on 11/24/2020
Several charities are experiencing a drop in donations as the United States grapples with the COVID health crisis. In response, Congress included a clause in the CARES Act, designed...
Posted by Karen Munoz, EA on 11/20/2020
