by Justin Juknelis | Aug 6, 2019 | Uncategorized
Bitcoin and other forms of virtual currency are gaining popularity. But many businesses, consumers, employees and investors are still confused about how they work and how to report transactions on their federal tax returns. And the IRS just announced that it is...
by Justin Juknelis | Jul 30, 2019 | Uncategorized
Working from home has its perks. Not only can you skip the commute, but you also might be eligible to deduct home office expenses on your tax return. Deductions for these expenses can save you a bundle, if you meet the tax law qualifications. Under the Tax Cuts and...
by Justin Juknelis | Jul 15, 2019 | Uncategorized
There’s good news about the Section 179 depreciation deduction for business property. The election has long provided a tax windfall to businesses, enabling them to claim immediate deductions for qualified assets, instead of taking depreciation deductions over time....
by Justin Juknelis | Jun 24, 2019 | Uncategorized
The Tax Cuts and Jobs Act (TCJA) has changed the landscape for business taxpayers. That’s because the law introduced a flat 21% federal income tax rate for C corporations. Under prior law, profitable C corporations paid up to 35%. The TCJA also cut individual income...
by Justin Juknelis | Jun 12, 2019 | Uncategorized
If the employees come from certain “targeted groups,” you may be eligible for the Work Opportunity Tax Credit (WOTC). This includes youth whom you bring in this summer for two or three months. As an employer you may be able to claim a maximum credit of $2,400 to...
by Justin Juknelis | May 31, 2019 | Uncategorized
Tax-smart domestic travel: Combining business with pleasure Summer is just around the corner, so you might be thinking about getting some vacation time. If you’re self-employed or a business owner, you have a golden opportunity to combine a business trip with a few...
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