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IRS Issues Final QBI Real Estate Safe Harbor Rules

IRS Issues Final QBI Real Estate Safe Harbor Rules

Earlier this year, the IRS published a proposed safe harbor giving owners of certain rental real estate interests the opportunity to take advantage of the qualified business income (QBI) deduction. The QBI write-off was created by the Tax Cuts and Jobs Act (TCJA) for...
Let’s Find A Better Way To Manage Your Receivables

Let’s Find A Better Way To Manage Your Receivables

Failure to collect accounts receivable (AR) in a timely manner can lead to myriad financial problems for your company, including poor cash flow and the inability to pay its own bills. Here are five effective ideas to facilitate more timely collections: 1. Create an AR...
Congress Reforms the IRS, Enhances Taxpayer Protections

Congress Reforms the IRS, Enhances Taxpayer Protections

The U.S. Senate has passed, and President Trump is expected to sign into law, a broad package of reforms aimed at the IRS. Among other things, the Taxpayer First Act contains several new protections for taxpayers, along with provisions intended to improve the IRS’s...
IRS Wheels Out Additional Guidance on Company Cars

IRS Wheels Out Additional Guidance on Company Cars

The IRS has updated the inflation-adjusted “luxury automobile” limits on certain deductions taxpayers can take for passenger automobiles — including light trucks and vans — used in their businesses. Revenue Procedure 2019-26 includes different limits for purchased...
Why You Shouldn’t Wait to File Your 2018 Income Tax Return

Why You Shouldn’t Wait to File Your 2018 Income Tax Return

The IRS opened the 2018 income tax return filing season on January 28. Even if you typically don’t file until much closer to the April 15 deadline, this year consider filing as soon as you can. Why? You can potentially protect yourself from tax identity theft — and...
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