Articles & Publications

IRS Issues Transitional Guidance on Meals & Entertainment Deductions

As we noted in our March Tax Reform Series #5 Advisor, the TCJA amendment caused significant confusion regarding the deductibility of meals that occurred before, after or during entertainment. IRS Notice 2018-76 was issued to provide transitional guidance that. Read More >>

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2018 Year End Tax Planning for Business and Individuals

This year was big. The barrage of tax changes and updates were so far-reaching, that every individual and business has been touched by it in some way. With the Tax Cuts and Jobs Act (TCJA) changing the playing field. Read More >>

2019 Cost-of-Living Adjustments (COLA)

November 5, 2018 Tax Advisor

On Friday, the IRS announced the 2019 cost-of-living adjustments (COLAs), which impact retirement plans for more than 67 million Americans. In addition, the Social Security Administration announced the 2019 social security wage base will be $132,900, which reflects a 3.5% increase from 2018. Most. Read More >>

4 Questions to Ask Before Hiring Household Help

When you hire someone to work in your home, you may become an employer. Thus, you may have specific tax obligations, such as withholding and paying Social Security and Medicare (FICA) taxes, and possibly federal and state unemployment insurance.. Read More >>

IRS Releases Proposed Regulations to Clarify Qualified Business Income Deduction

When tax reform passed in December last year, corporations received a lower tax rate of 21%, while rates were slightly reduced for individuals. To give a similar benefit to businesses organized as pass-through entities tax reform enacted a 20%. Read More >>

Ohio’s Back-to-School Sales Tax Holiday is Back!

  Back-to-school shopping is right around the corner and for the fourth year in a row, The Ohio Department of Taxation has announced a sales tax holiday to help reduce the back-to-school blow to your wallet. The 2018 Sales. Read More >>

U.S. Supreme Court Reverses Quill Decision in South Dakota v. Wayfair Case

On June 21, 2018, the U.S. Supreme Court ruled in favor of South Dakota, effectively reversing the long-held physical presence standard for sales tax collection that was in place since the 1992 Quill decision. The court’s decision makes physical. Read More >>

Tax Reform Series #7: Carried Interest Extended to 3-Year Holding Period

The Tax Cuts and Jobs Act of 2017 (“TCJA”) adoption of Internal Revenue Code (“Code”) Section 1061 is targeted at hedge and private equity funds. The TCJA extends the holding period for favorable long-term capital gain treatment related to. Read More >>

Tax Insights: 529 Plan Use Expanded Under Tax Reform

A 529 plan has historically been used to cover various qualified college expenses, including tuition, enrollment fees, books, supplies, housing, online educational materials, tutoring or classes outside of the home, and educational therapies for students with disabilities. Under the. Read More >>

Tax Reform Series #6: Tax Savings from Accounting Methods

The Internal Revenue Service is working to implement the major tax changes approved by Congress in the Tax Cuts and Jobs Act of 2017 (“TCJA”), including several provisions reforming and simplifying accounting methods for small businesses. Our latest Tax. Read More >>