The Internal Revenue Service has released a set of proposed regulations for businesses to follow when deducting meals and entertainment, in response to the 2017 tax overhaul. The Tax Cuts and Jobs Act got rid of the deduction for any expenses related to activities typically considered to be for entertainment, amusement or recreation. It also restricted the deduction for expenses related to … Read More
5 Tax Planning Tips
Use these five tips to approach your 2019 income tax return with more confidence. Check back with us later next week, as more tips will be added soon! 1. Know if you will take the standard deduction It’s important to know whether you expect to take the standard deduction before making decisions on year-end spending that would normally generate itemized … Read More