The Tax Cuts and Jobs Act (TCJA) contains a provision that ties revenue recognition for book purposes to income reporting for tax purposes, for tax years starting in 2018.
When teachers are setting up their classrooms for the new school year, it’s common for them to pay for a portion of their classroom supplies out of pocket.
If you gamble, be sure you understand the tax consequences. Both wins and losses can affect your income tax bill. And changes under the Tax Cuts and Jobs Act (TCJA) could also have an impact.
The S corporation business structure offers many advantages, including limited liability for owners and no double taxation (at least at the federal level).
The pieces of tax legislation garnering the most attention these days are the Tax Cuts and Jobs Act (TCJA) signed into law last December and the possible “Tax Reform 2.0” that Congress might pass t
The Tax Cuts and Jobs Act (TCJA) liberalized the eligibility rules for using the cash method of accounting, making this method — which is simpler than the accrual method — available to more busines
Converting a traditional IRA to a Roth IRA can provide tax-free growth and tax-free withdrawals in retirement.
There was talk of repealing the individual alternative minimum tax (AMT) as part of last year’s tax reform legislation.
Under the Tax Cuts and Jobs Act, employees can no longer claim the home office deduction.
Once upon a time, some parents and grandparents would attempt to save tax by putting investments in the names of their young children or grandchildren in lower income tax brackets.