The 2017 Tax Cuts and Jobs Act (TCJA) was one of the most sweeping tax code revisions in decades. Most of its provisions came into effect on January 1, 2018, and most of the changes...
Posted by Unifirst Financial & Tax Consultants on 07/06/2021
Data from recent statistics revealed that about $1.2 trillion was claimed as tax deductions last year. From this, a handful of people went through the standard deduction route. Unfortunately,...
Posted by Thomas G Kinsella, ATP on 06/11/2021
When you buy personal effects for your business, such as a car or a computer, that last more than a year, you should gradually deduct the cost over several years. This process is called...
Most people have little experience of what happens after the death of a loved one, yet they are appointed as a personal representative or executor to settle the estate. This guide...
It is pertinent to know how to handle old credit cards with identity theft and fraud as prevalent as never before. As a result, you should not just leave the old card lying in your...
Posted by Income Taxes and Bookkeeping LLC on 04/21/2021
On January 19, the Treasury Department and the IRS released a final rule to help tax-exempt nonprofits comply with excise tax which is considered excessive under Section 4960 of the...
Posted by Unifirst Financial & Tax Consultants on 03/15/2021
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
There was a historic adjustment made by the Tax Cuts and Jobs Act (TCJA) to the federal tax code. Although this triggered a significant tax break with many business entities, many...
President Donald Trump has been considering further cuts to payroll taxes to allow American workers to get higher wages at home. But such an approach could have negative consequences...
Posted by Larry Hurt on 09/30/2019
