By Todd Koch, CPA, MBT, CFP When the government passed the spending bills at the end of December they also passed a bunch of tax provisions. Beyond the SECURE Act, there also are the extenders. The extenders are provisions that had sunsets in the past that they want to bring back. There are new deductions […]
Qualified Opportunity Zones: What to Know Before You Invest
By John Ammann, CPA Since early 2018, much has been said about the opportunity zone provisions that were enacted as part of the Tax Cuts and Jobs Act (TCJA). Designed to spur economic growth in select low-income communities across the U.S., the provisions designate more than 8,700 such communities as qualified opportunity zones (QOZs). Taxpayers […]
50 Shades of Gray: The Story of Business Tax Deductions
By Christopher Bertz, CPA Every business owner has, at one point, wondered if a particular expense was deductible. Thankfully, there’s a no-fail answer to this conundrum: “It depends.” That’s because the IRS defines business expenses as “the cost of carrying on a trade or business” and notes that they can generally be deducted by for-profit […]