The Tax Cuts and Jobs Act (TCJA) includes a provision that allows qualifying business owners to take an income deduction (QBID). The vague language and complexity of the 20 percent pass-through deduction continues to cause frustration for business owners. Which...
Businesses have new tax rules for holiday meals and entertainment
The holidays are right around the corner. In the weeks leading up to holiday breaks, many companies will treat their employees, vendors and other associates to perks for another great year of working together. However, new changes to the Tax Cuts and Jobs Act (TCJA)...
Got foreign accounts? IRS has new reporting requirements.
The Internal Revenue Service (IRS) recently announced new reporting requirements for United States taxpayers with foreign accounts. The change is in part due to the sunset of the offshore voluntary disclosures program (OVDP). Who can benefit from the new program? The...
Three ways to reduce your tax bill
The Tax Cuts and Jobs Act resulted in major tax reform. Savvy tax planners can make the most of these changes and take steps to reduce their tax obligations. Three specific examples include adjusting how you donate to charitable donations, making sure you can get...
Amazon chooses headquarters in Long Island — despite high taxes
On behalf of Goldburd McCone LLP posted in Tax Collection on Monday, December 3, 2018. Finding the right business headquarters is an important choice. The right location can help set the company's image and impact the type of workers that are interested in working for...
