TAXATION

IRS Issues Guidance on Business Meal Deductions
 

IRS Issues Guidance on Business Meal Deductions

Posted: October 3, 2018
Taxpayers may continue to deduct 50 percent of the cost of business meals if the taxpayer (or an employee of the taxpayer) is present and the food or beverages are not considered lavish or extravagant.

Five Types of Interest Expense, Three Sets of New Rules
 

Five Types of Interest Expense, Three Sets of New Rules

Posted: October 1, 2018
For individual taxpayers, whether interest expense is deductible depends on the type of interest. This article provides an overview of the rules that apply to each of five types of interest after the passage of the Tax Cuts and Jobs Act.

New Streamlined 1040 Tax Form for 2019 Is Not So Simple
 

New Streamlined 1040 Tax Form for 2019 Is Not So Simple

Posted: September 28, 2018
The Internal Revenue Service’s decision to streamline the 1040 tax form for the 2019 tax filing season is leaving some taxpayers as well as certified public accountants (CPAs) with more work. Read to find out more.

IRS Issues 2018-19 Per-Diem Rates
 

IRS Issues 2018-19 Per-Diem Rates

Posted: September 27, 2018
Business travelers who incur expenses while traveling away from home have new per-diem rates to use in substantiating certain of those expenses.


Vacation Home Rentals and the TCJA
 

Vacation Home Rentals and the TCJA

Posted: September 19, 2018
Taxpayers who have vacation homes they rent and use for personal purposes might find they face more complicated calculations under the new tax law, which this article illustrates with examples comparing 2017 with 2018.


Offshore Voluntary Disclosure Incentive Program to End Sept. 28
 

Offshore Voluntary Disclosure Incentive Program to End Sept. 28

Posted: August 27, 2018
The IRS’s offshore voluntary disclosure incentive (OVDI) program, which allows taxpayers to come forward and disclose foreign bank and other financial accounts and receive immunity from civil and criminal prosecutions, will be expiring on September 28, 2018. Time is running out if you have unreported foreign assets and wish to comply under the OVDI program.

Proposed Regs Issued on Charitable Contributions and SALT Credits
 

Proposed Regs Issued on Charitable Contributions and SALT Credits

Posted: August 23, 2018
Today the U.S. Department of the Treasury and the IRS issued proposed regulations providing rules on the availability of charitable contribution deductions when the taxpayer receives or expects to receive a corresponding state or local tax credit.


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