The Tax Cuts and Jobs Act of 2017 created an avenue for taxpayers to temporarily defer capital gains, potentially exclude up to 15% of those same deferred gains, and permanently […]

The Tax Cuts and Jobs Act (TCJA) created qualified opportunity zones (QOZs), a significant new tax incentive, to encourage long-term, private investment in more than 8,700 economically distressed and low-income […]

The IRS has updated the inflation-adjusted “luxury automobile” limits on certain deductions taxpayers can take for passenger automobiles, including light trucks and vans, used in their businesses. Revenue Procedure 2019-26 […]

The IRS recently announced the inflation-adjusted maximum value of an employer-provided vehicle under the vehicle cents-per-mile rule and the fleet-average value rule. Employers can use the rules to value an […]

Due to the massive changes in the Tax Cuts and Jobs Act (TCJA), the 2019 filing season resulted in surprises. Many filers who received refunds in past years wound up […]

The market for plug-in electric vehicles (EVs) is still small compared with other cars on the road, but it’s growing thanks in part to a federal tax credit offering. If […]

The limitations on itemized deductions have gotten a lot of attention under the new Tax Cuts and Jobs Act (TCJA). More individuals will take advantage of the standard deduction instead […]

The Tax Cuts and Jobs Act (TCJA) limits or eliminates several itemized deductions that have been available to many individual taxpayers. Here are five deductions reduced or eliminated by the […]