What is the excess business loss limitation under code section 461 (I)? In its simplest form, it is a fourth disallowance provision behind the three that we already have in […]

By Miranda Aavatsmark It’s 11:00 p.m. on New Year’s Eve, 2017 and I’m ready for a relaxing evening.  My day started with checking my email and fretting that something was […]

Now is the time to start tax planning for 2018 for maximum tax savings. It’s especially critical to get an early start this year because the Tax Cuts and Jobs […]

Normally when appreciated business assets such as real estate are sold, tax is owed on the appreciation. But there’s a way to defer this tax: a Section 1031 “like-kind” exchange. […]

The Tax Cuts and Jobs Act (TCJA) imposes a limit on deductions for business interest for taxable years beginning in 2018. The limit, like other aspects of the law, has […]

With rising healthcare costs, claiming tax deductions for these expenses can be more important than ever. However, there is a threshold for deducting medical expenses that may be hard to […]

The recently enacted Tax Cuts and Jobs Act (TCJA) includes a number of changes to the rules governing the choice of accounting methods by taxpayers. In certain situations, the TCJA […]

Along with tax rate reductions and a new deduction for pass-through qualified business income, the new tax law brings the reduction or elimination of tax deductions for certain business expenses. […]