The U.S. Department of Labor (DOL) has released the finalized rule on overtime exemptions for white-collar workers under the Fair Labor Standards Act. The rule updates the standard salary levels […]

Earlier this year, the IRS published a proposed safe harbor giving owners of certain rental real estate interests the opportunity to take advantage of the qualified business income (QBI) deduction. […]

The IRS has released final regulations and another round of proposed regs for the first-year 100% bonus depreciation deduction. The Tax Cuts and Jobs Act (TCJA) expanded the deduction to […]

Working from home has its perks – you can skip the commute, have a more flexible schedule, and forego “business professional” dress on many occasions.  If you work from home, […]

For many years, the number of S corporations have been on the rise, due to high corporate tax rates and double taxation. Business owners were able to receive limited liability […]

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 […]