If you purchased qualifying property by December 31, 2017, you may be able to take advantage of Section 179 expensing on your 2017 tax return. You’ll also want to keep this tax break in mind in your property purchase planning, because the Tax Cuts and Jobs Act (TCJA), signed into law this past December, significantly[ … ]
Tag: tax cuts and jobs act
2 tax credits just for small businesses may reduce your 2017 and 2018 tax bills
Tax credits reduce tax liability dollar-for-dollar, potentially making them more valuable than deductions, which reduce only the amount of income subject to tax. Maximizing available credits is especially important now that the Tax Cuts and Jobs Act has reduced or eliminated some tax breaks for businesses. Two still-available tax credits are especially for small businesses[ … ]
BeachFleischman’s David Cohen discusses the new tax bill on What’s Up AZ
Over the weekend, our own David Cohen appeared on radio program What’s Up AZ on 1030 KVOI AM to discuss the recent Tax Cuts and Jobs Act with host Sherry Harrison. “This is a very broad and complex tax bill. The CPA community is still trying to figure it out. What happens is Congress[ … ]
Personal exemptions and standard deductions and tax credits, oh my!
Under the Tax Cuts and Jobs Act (TCJA), individual income tax rates generally go down for 2018 through 2025. But that doesn’t necessarily mean your income tax liability will go down. The TCJA also makes a lot of changes to tax breaks for individuals, reducing or eliminating some while expanding others. The total impact of[ … ]
How the new tax bill, “Tax Cuts and Jobs Act,” affects you
Get the Report – President Signs Sweeping Tax Overhaul Into Law The Tax Cuts and Jobs Act (H.R. 1) has been approved by Congress and signed by President Trump. After a last-minute procedural glitch that required the Senate to vote first on the final bill, the most sweeping change to the U.S. tax code in[ … ]
