Outline of the Tax Cuts and Jobs Act (TCJA)
Consider this post as “Tax Reform for Beginners”. Following is a basic outline of the more significant changes included in the TCJA, effecting bot
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Receivables
Life insurance can be a powerful estate planning tool for nontaxable estates
For years, life insurance has played a critical role in estate planning, providing a source of liquidity to pay estate taxes and other expenses.
Read MoreCollaborating for a cause: Nonprofit alliances
Countless nonprofits have partnered up for strength and survival in recent years.
Read MoreLight a beacon to your business with a mission statement
Every company, big or small, should have a mission statement. Why?
Read MoreCan you deduct home office expenses?
Working from home has become commonplace. But just because you have a home office space doesn’t mean you can deduct expenses associated with it.
Read MoreMeals, entertainment and transportation may cost businesses more under the TCJA
Along with tax rate reductions and a new deduction for pass-through qualified business income, the new tax law brings the reduction or elimination
Read MoreFootnote disclosures are critical to transparent financial reporting
Business owners often complain that they’re required to provide too many disclosures under U.S. Generally Accepted Accounting Principles (GAAP).
Read MoreHave you taken state estate taxes into account?
The Tax Cuts and Jobs Act has doubled the federal gift and estate tax exemption, with inflation-adjustments projected to raise it to $11.18 million
Read MorePersonal exemptions and standard deductions and tax credits, oh my!
Under the Tax Cuts and Jobs Act (TCJA), individual income tax rates generally go down for 2018 through 2025.
Read MoreYour 2017 tax return may be your last chance to take the “manufacturers’ deduction”
While many provisions of the Tax Cuts and Jobs Act (TCJA) will save businesses tax, the new law also reduces or eliminates some tax breaks for busi
Read MoreHow financial statements can be used to value private businesses
Owners of private businesses often wonder: How much is my business interest worth?
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