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...
The participation exemption system will allow the United States to transition to a quasi-territorial system that will effectively replace the current external tax credit system. Under...
Posted by Aurelia E Weems CPA on 11/17/2020
What is the Internal Revenue Code?The Internal Revenue Code refers to Title 26 of the United States Code. "Formal consolidation and codification of the United States' general...
Posted by Carmen Garcia on 10/21/2020
Getting your taxable income is not a straightforward process. You have to sum all your income from various sources and remove your allowable deductions. For people that want to avoid...
Posted by Abundant Wealth Planning LLC on 09/18/2020
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...
The Tax Cuts and Jobs Act may have lessened the burden of most middle-income taxpayers because of the low taxes this year, but it may still have a negative impact on your tax planning.President...
Tax Cuts and Jobs Act: Do You Itemize? Consider Checking Your Withholding to Avoid Tax Surprises.People who have itemized before may be affected by changes from the Tax Cuts and Jobs...
Posted by Masterpiece Accounting Services LLC on 06/05/2018
People who have itemized before may be affected by changes from the Tax Cuts and Jobs Act. Those who itemize should use the IRS Withholding Calculator to make sure their employers...
Posted by Masterpiece Accounting Services LLC on 06/05/2018
