The April 17 individual income tax return filing deadline is almost here. If you haven’t filed yet, watch out for these pitfalls.
Sec. 179 expensing allows eligible taxpayers to deduct the entire cost of qualifying business property in Year 1, subject to various limitations. Here’s what you need to know.
The recently passed Bipartisan Budget Act of 2018 included an extension of the tuition and fees deduction. But that may not be the best higher-education break to claim on your 2017 return.
The new tax law makes it easier to claim the medical expense deduction on your 2017 tax return. It provides planning opportunities for 2018, too.
Providing employee benefits can help businesses attract and retain the best workers. But the cost can be out of reach for some small businesses. Two tax credits can help make benefits more affordable.
You might be able to deduct home office expenses for 2017 but not 2018. The difference may depend on whether you’re an employee or self-employed.
At tax filing time, a large tax bill isn’t your only risk. So is tax identity theft. To protect yourself, be speedy.
Bonus depreciation allows businesses to deduct more of an asset’s cost in the year the asset is placed in service. The new tax law’s enhanced bonus depreciation provision may save tax on your 2017 return.
Many valuable tax breaks expired at the end of 2013. But Congress probably will revive at least some of them, likely retroactively to Jan. 1, 2014. The question is exactly which breaks they’ll extend and when they’ll pass the necessary legislation to do so.
Here are several that may benefit you or your business if extended…