Monthly Archives: August 2019

//August

SHOULD A BUSINESS PURCHASE FIXED ASSETS THIS YEAR

2019-08-29T17:19:07+00:00

Bonus depreciation is a tax incentive that allows small- to mid-sized businesses to take a first year-deduction on purchases of qualified business property in addition to other depreciation.   How bonus depreciation works Generally, the point of depreciation is to spread out the cost of an asset over the life of the asset, rather than take [...]

SHOULD A BUSINESS PURCHASE FIXED ASSETS THIS YEAR2019-08-29T17:19:07+00:00

CLARIFICATION OF MEALS AND ENTERTAINMENT DEDUCTIONS FOR BUSINESS

2019-08-23T19:25:18+00:00

Deductions for business meals are back on the table. Allaying initial fears, the IRS recently provided clarification concerning food and beverage deductions under the Tax Cuts and Jobs Act (TCJA) in Notice 2018-76. Based on this guidance, many of your business clients may still qualify for some write-offs. Significantly, the TCJA eliminated the traditional 50% deduction [...]

CLARIFICATION OF MEALS AND ENTERTAINMENT DEDUCTIONS FOR BUSINESS2019-08-23T19:25:18+00:00