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The Business Presentation Expense

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A Strategy You’ll Want to Use Right Away – The Business Presentation Expense So at this point you’ve probably heard at least some of the tax law changes with this big TAX REFORM. And if you’ve read what we put out in our community you’ve heard all the big changes that apply to you in your situation. I know reading up on “taxes” is nothing…

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Tax Reform [6 of 5] A Few Last Mentionables

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I do hope you have found something of value in these posts. This is our last one on tax reform changes. Cash Method of Accounting I admit this topic relates to a smaller portion of business owners, but it deserves a quick mention. Before, a business that does more than $5 million in revenue would need to file their taxes on the “accrual” method. After,…

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Tax Reform [4 of 5] Real Estate Related Changes

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We are giving you a short one today because next post on the changes to your personal taxes is a little long because….well, the IRS made a lot of changes to the personal tax code. For this one, if you have real estate as a rental property (residential or commercial) or do real estate investing, these changes may affect you. Depreciation Definition  Before, if you…

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Tax Reform [3 of 5] Business Expense Changes

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The tax rules have changed a few expenses. The biggest shocker, the one that has left all of us tax professionals scratching our head, is the change to entertainment expenses. Spoiler alert – this is a very BAD change. Entertainment Expenses Before, you could claim as a deduction and receive a 50% tax break on any expenses relating to things you did for fun that you…

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