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The Internal Revenue Service and the Treasury Department have issued final regulations and proposed regulations regarding 100% bonus depreciation. The final regulations confirm regulations issued…read more
The IRS recently announced that it’ll increase the standard mileage rate for qualified business driving for the second half of 2022. The adjustment reflects the…read more
It’s not too late! You can still take steps to significantly reduce your business’s 2017 income tax bill and possibly lay the groundwork for tax…read more
On Wednesday December 20, 2017, the House and the Senate passed the tax reform legislation that had been referred to as the “Tax Cuts and…read more
Although the national price of gas is a bit lower than it was a year ago, the optional standard mileage rate used to calculate the…read more
This year, the optional standard mileage rate used to calculate the deductible costs of operating an automobile for business decreased by one-and-one-half cents, to 56…read more
The optional standard mileage rate used to calculate the deductible cost of operating an automobile for business will be going up by 1.5 cents per…read more
Will pass-through entities still be popular under the Tax Cuts and Jobs Act (TCJA)? The tax rules for pass-through entities, including S corporations, limited liability…read more
This year, the optional standard mileage rate used to calculate the deductible costs of operating an automobile for business decreased by one-half cent, to 57.5…read more
Business owners are aware that the price of gas is historically high, which has made their vehicle costs soar. The average nationwide price of a…read more
After two years of no increases, the optional standard mileage rate used to calculate the deductible cost of operating an automobile for business will be…read more
One of the most valuable tax breaks in the Tax Cuts and Jobs Act (TCJA) is the new deduction for up to 20% of qualified…read more
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