Welcome to our Tax Reform Resource Center.

We are keeping an ear to the ground so that when updates and regulations occur surrounding the Tax Cuts and Jobs Act, you will know first. Check back here and follow us on social media to receive breaking news as it occurs.

Have questions about how the legislation affects your personal and business tax planning for 2018? Contact your local Blue & Co. tax advisor.

Articles

Ways Your Taxes will Change in 2020

Ways Your Taxes will Change in 2020

Even though the New Year is just upon us, and we are working diligently to get our taxes filed for 2019, it is also time to start looking ahead to the 2020 tax year. As it happens, just before the holidays, two important pieces of tax legislation were passed as part of a year-end appropriations […]

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Research and Development Credits Could Impact Your 2019 Tax Savings

Research and Development Credits Could Impact Your 2019 Tax Savings

Income taxes can be a major driving force in key business decisions on a daily basis. Income taxes have significant impact on cash flow, can influence decisions on how to price jobs, and can impact how much employees are paid. Taking advantage of tax credits can help strengthen cash flow and increase the ability to […]

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Highlights of Spending Package’s Tax Law Changes

Highlights of Spending Package’s Tax Law Changes

The federal government spending package titled the Further Consolidated Appropriations Act, 2020, does more than just fund the government. It extends certain income tax provisions that had already expired or that were due to expire at the end of 2019. The agreement on the spending package also includes the Setting Every Community Up for Retirement […]

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IRS Update: Rules for Using Per Diem Rates

IRS Update: Rules for Using Per Diem Rates

The IRS recently issued guidance on how businesses, self-employed individuals and qualified employees can use the per diem rules to substantiate their business travel expenses for tax purposes. The guidance in Revenue Procedure 2019-48 modifies 2011 guidance to reflect changes made by the Tax Cuts and Jobs Act (TCJA). In a nutshell, the per diem […]

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Spending Bill Extends Tax Breaks & Adds Retirement Account Provisions

Spending Bill Extends Tax Breaks & Adds Retirement Account Provisions

Congress reached an agreement on a massive government-wide spending package titled the Further Consolidated Appropriations Act, 2020. The legislation extends certain income tax provisions that had expired, as well as some that were due to expire at the end of 2019. Congress traditionally passes so-called “extenders” annually, but it neglected to do so for 2018. […]

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Updated rules for mileage-related deductions

Updated Rule for Mileage-Related Deductions

The IRS has issued new guidance updating the rules for using optional standard mileage rates when calculating “above-the-line” deductions for the costs of operating an automobile for certain purposes. IRS Revenue Procedure 2019-46 also lays out rules for establishing the amount of an employee’s transportation expenses that are reimbursed using the optional standard mileage rates. […]

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