If you plan on deducting any moving or vehicle expenses on your 2018 tax return, there are some changes you should be aware of. The IRS released information on changes from the Tax Cuts and Jobs act that affect moving expenses, vehicle expenses, unreimbursed employee expenses and depreciation limits for some vehicles. Here are a few of the changes:
Tags: Tax Return, Tax Deductions, Tax Help, Tax Law, Tax Cuts and Jobs Act
If you watch the news, you know that Congress passed a major tax reform bill several months ago that could alter your situation for the 2018 tax year. The Tax Cuts and Jobs Act is over 500 pages and 72,000 plus words long. In this blog, we will work to break down two significant changes.
Tags: Tax Return, Tax Deductions, Tax Help, Tax Law, Tax Cuts and Jobs Act
Since the Tax Cuts and Jobs Act passed earlier this year, we have been continually asked about what recent Tax Court rulings we’ve seen because of this. The truth is, we have not seen any tax court rulings affected by it yet. Because the changes will not set in until January 1, 2019, all current tax court cases are not affected by it.
Tags: Tax Return, Tax, audit help, Audit, Tax Help, Tax Law, Tax Cuts and Jobs Act, Tax Court
If you’re a small business owner, chances are you’ve been researching and looking at the new tax law to see how it could affect you. Depending on how you are structured, there are a few changes that will apply to you, and it’s important that you pay attention to your business structure, because that can mean more or less taxes.
Tags: Tax Return, Tax, Tax Deductions, Tax Help, Tax Law, Tax Cuts and Jobs Act
Taxes aren’t the most exciting thing in the world, but we thought if we combined America’s favorite pastime with taxes, maybe things would be a little more interesting. We thought it would be fun to dive into the world of NFL players and the ways the new tax law affects their deductions.
Tags: Tax Help, Tax Law, Tax Cuts and Jobs Act