§199A QBI Deduction on IRS-Prepared Substitute Return Not Allowed

Tax Reform changes depreciation limits on luxury automobiles

The Tax Cuts and Jobs Act changed depreciation limits for passenger vehicles placed in service after Dec. 31, 2017. If the taxpayer doesn’t claim bonus depreciation, the greatest allowable depreciation deducti...

The Tax Cuts and Jobs Act was signed into law on Dec. 22, 2017, and it provides many incentives for small business owners, including three depreciation benefits you should be aware of. 

1. Bonus Depreciation

Congress has increased bonus depreciation from 50%  to 100...

Taxpayers who sell a home may qualify to exclude from their income all or part of any gain from the sale. Below are some things taxpayers should keep in mind when selling a home:

Ownership and use. To claim the exclusion, the homeowner must meet the ownership and use te...

To help taxpayers, the IRS updated the special Withholding Calculator tool on IRS.gov to reflect changes in the Tax Cuts and Jobs Act passed in December.

With most employees seeing withholding changes in their paychecks, the IRS recommends taxpayers use the Withhol...