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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

Revoke or Not to Revoke – That Is The Question

Revoke or Not to Revoke – That Is The Question

The Tax Cuts and Jobs Act (TCJA) was signed into law on December 22, 2017, and we have had a full tax year, and the following tax season, to absorb the impact of the myriad of tax law changes that were the result. In response to this, many construction companies have asked if they should […]

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Construction Tax Alert: New $25M Average Gross Receipts Threshold

Construction Tax Alert: New $25M Average Gross Receipts Threshold

The new Tax Cuts and Jobs Act (TCJA) has brought many changes to the tax law. However, there is one area not drawing a lot of attention that is worth discussing: the change to a $25 million average gross receipts threshold. The new $25 million average gross receipts threshold will have a huge impact on […]

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Making sense of the new IRS rules on company cars

Making Sense of the New IRS Rules on Company Cars

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 includes different limits for purchased automobiles that are and aren’t eligible for bonus first-year depreciation, as well as for leased automobiles. The Role of the […]

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IRS Updates Rules for Personal Use of Employer-Provided Vehicles

IRS Updates Rules for Personal Use of Employer-Provided Vehicles

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 employee’s personal use of such a vehicle for income and employment tax purposes. The new values reflect vehicle-related amendments in the Tax Cuts and Jobs […]

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Now is the Time to Check your Withholding

Now is the Time to Check your Withholding

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 owing money. The IRS reported that the number of refunds paid this year is down from last year — and the average refund is lower. […]

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New electric vehicle purchase can provide a generous tax credit.

New Electric Vehicle Purchase Can Provide a Generous Tax Credit

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 you’re interested in purchasing an electric or hybrid vehicle, you may be eligible for a federal income tax credit of up to $7,500. (Depending on […]

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