August 21, 2018
According to new rules from the Tax Cuts & Jobs Act, meals and entertainment tax-deductible expenses for businesses have undergone considerable reform. Because the explanations of new deduction guidelines can be confusing, we’ve created this brief outline for you. A visit with your accounting professional to ensure your Chart of Accounts is correct may also be beneficial.
Keep expense details specific with coinciding receipts. Your bookkeeper will be grateful!
Remember, we are here to help, so contact our office any time for further explanation on new meals and entertainment rules.
Changes to the medical expense deduction and the tax treatment of alimony go into effect in 2019. Find out the details.
If you’re like many business owners, you pay out annual bonuses to attract, retain and motivate employees. Depending on the circumstances, paying bonuses in early 2019 might reduce your 2018 tax liability.
As you prepare for the start of 2019, you may be thinking about shredding some of your business's old financial records. Stop! The IRS recommends that, in general, you hold onto...