In recent days, we learned that lawmakers did not intend to eliminate business meals with clients and prospects. We’re not exactly sure how lawmakers can undo what they’ve done to the tax code in this area, but experience says that if there’s a will, there’s a way. We think it may take a technical correction Read more about Did Tax Reform Goof When Disallowing Deductions for Client Meals?[…]

The recent tax reform, known as the Tax Cuts and Jobs Act (TCJA), added some good benefits to your real estate rentals, both commercial and residential. Notably, your qualified business income from your real estate rentals creates a possible 20 percent tax deduction with no effort on your part. And if you want less taxable Read more about Tax Reform and how it helps your Real Estate[…]

Tax Reform Puts Screws to Hobbies The tax law (Tax Cuts and Jobs Act) has mistreated hobbies for a long time. But the most recent tax reform brings the grim reaper to the party, and it’s not pleasant. This means you need to focus on making your activity a business and not a hobby. Under Read more about Tax Reform Puts Screws to Hobbies[…]