Tax

  • Vehicle mileage deduction rate increases for 2019

    • March 21, 2019
    • Posted by: Bill Jacob
    • Category: Accounting & Bookkeeping, Tax
    No Comments

    Just about every family-owned and closely-held business relies on vehicles to get things done. From company cars for the bosses to service vehicles and delivery trucks, and of course your employee’s cars being utilized for business purposes, these vehicles can add up to be a considerable expense of the course of the year. Thankfully, the

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  • Do you own business real estate? These Depreciation-related breaks may help you.

    • March 21, 2019
    • Posted by: Ryan Carriere
    • Category: Accounting & Bookkeeping, Tax, Tax Legislation
    No Comments

    One of the benefits of owning a commercial building has been provided by the tax code in the manner of depreciation write offs. While commercial buildings and improvements generally are depreciated over 39 years, special tax breaks that allow deductions to be taken more quickly are available for certain real estate investments. Unfortunately, land is

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  • Wayfair Decision Update: The States React

    • February 6, 2019
    • Posted by: Jen Gostovic
    • Category: Accounting & Bookkeeping, Tax, Tax Legislation
    No Comments

    Since the June 2018 Wayfair vs South Dakota Supreme Court decision, states have begun adopting new and differing rules for collecting their share of sales tax from businesses in other states selling locally. The result is a complex matrix of collection requirements on the part of businesses selling to customers across state lines, particularly sales

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  • What the Supreme Court decision regarding online sales tax means to your business

    • August 28, 2018
    • Posted by: Jen Gostovic
    • Category: Tax
    No Comments
    Does your business have to begin collecting sales tax on all out-of-state online sales? At this point, most people are aware of the recent U.S. Supreme Court decision allowing state and local governments to impose sales taxes on more out-of-state online sales. The ruling in South Dakota v. Wayfair, Inc. has been met with a
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  • Ability to deduct business travel mixed with vacation is questionable

    • August 1, 2018
    • Posted by: Jen Gostovic
    • Category: Tax, Tax Legislation
    No Comments

    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. However, be careful, as you may not be eligible for the deduction you’re expecting. General rules of the road Business travel expenses are potentially deductible if the travel is within

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  • 2018 Ushers in Big Changes in Taxes

    • June 15, 2018
    • Posted by: Jen Gostovic
    • Category: Tax, Tax Legislation
    No Comments

    2017 Tax Cuts and Jobs Act: Planning Required For Leveraging Benefits of Tax Code Changes At this point, everyone is aware of the 2017 Tax Cuts and Jobs Act. On December 22, 2017, Congress passed sweeping tax code changes intended to create jobs and spur economic growth. 2018 tax year changes welcome a host of

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