Author: Alexa Key

19

June

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Can you deduct business travel when it’s combined with a vacation?

At this time of year, a summer vacation is on many people’s minds. If you travel for business, combining a business trip with a vacation to offset some of the cost with a tax deduction can sound appealing. But tread carefully, or you might not be eligible for the deduction you’re expecting. General rules Business … Continued

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13

June

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2 Tax Law Changes that May Affect Your Business’ 401(k) Plan

When you think about recent tax law changes and your business, you’re probably thinking about the new 20% pass-through deduction for qualified business income or the enhancements to depreciation-related breaks. Or you may be contemplating the reduction or elimination of certain business expense deductions. But there are also a couple of recent tax law changes … Continued

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07

June

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Will there be a second tax cut law?

The White House is working on a second tax bill. The Trump Administration plans to propose a second tax cut law, possibly by the end of summer, which would make permanent the tax breaks for individuals that were passed in the Tax Cuts and Jobs Act. The White House Director of Legislative Affairs has been … Continued

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05

June

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Ready for the new lease standard?

A new accounting rule for reporting leases goes into effect in 2019 for public companies. Although private companies have been granted a one-year reprieve, no business should wait until the last minute to start the implementation process. Some recently revised guidance is intended to ease implementation. Here’s an overview of what’s changing. Old rules, new … Continued

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30

May

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Attn: Part-time and seasonal workers

Part-time and seasonal workers are urged to check their tax withholding amount. Due to changes under the Tax Cuts and Jobs Act, the IRS is urging these employees to use its “Withholding Calculator,” rather than Form W-4 worksheets, to confirm the correct amount of withholding. The IRS notes that the worksheets can’t account for part-year … Continued

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