Making business improvements before year-end may get you a bonus

Let’s talk bonus depreciation. It’s time for year-end tax planning, and under the Tax Cuts and Jobs Act, qualified new and used property that is acquired and placed in service in your business in 2019 is eligible for 100 percent first-year bonus depreciation. In other words, if you have been thinking about purchasing some equipment […]
Deductions for employee meals slashed under new tax law

The Tax Cuts and Jobs Act changes the deductibility on food and beverage expenses for employers. Under the new law there is a 50 percent limit for the employer’s expenses of providing food and beverages to employees at an eating facility that qualifies as a de minimis fringe benefit. Before The Tax Cuts and Jobs […]