New W4 for 2020
Employers are taking note of the new W-4 for 2020 – and employees should be taking a look, too.
Business Tax
Vernoia, Enterline + Brewer, CPA LLC can help you navigate business tax for LLCs, C Corps, S Corps, Non-Profits.
S Corp Losses Not Deductible: Debt Didn’t Run to Shareholder
A real estate developer could not deduct a portion of his S corporation’s losses because there was no debt between the S Corp and the developer as shareholder.
S Corp Losses Not Deductible: Debt Didn’t Run to Shareholder Read More »
Stock Redemptions Post-Termination Transition Period
The IRS has issued guidance on treatment of cash distributions made when a former S corporation (now a C corporation) redeems stock during the post-termination transition period.
Stock Redemptions Post-Termination Transition Period Read More »
Large Corporate Compliance Program
The IRS’s Large Business and International Division (LB&I) began a new application of data analytics for determining the population of its largest and most complex corporate taxpayers.
Large Corporate Compliance Program Read More »
Business Tax Miscellaneous Provisions
Opportunity Zones Opportunity Zones are an economic development tool to spur tax-favored investments in distressed communities throughout the country and in U.S. territories.
Business Tax Miscellaneous Provisions Read More »
Business: Temporary 100 Percent Expensing
The law increases the bonus depreciation percentage from 50 percent to 100 percent for qualified property acquired and placed in service after September 27, 2017, and before January 1, 2023.
Business: Temporary 100 Percent Expensing Read More »
Employee Achievement Award Rules
The IRS reminds employers that last year’s Tax Cuts and Jobs Act made changes to several programs that can affect an employer’s bottom line and its employees’ deductions. This includes employee achievement awards.
Employee Achievement Award Rules Read More »
Small businesses expense more expand bonus depreciation
The Internal Revenue Service reminds small business taxpayers that changes to the tax law mean they can immediately expense more of the cost of certain business property. Many are now able to write off most depreciable assets in the year they are placed into service.
Small businesses expense more expand bonus depreciation Read More »
100-percent depreciation deduction benefits business taxpayers
Tax reform legislation passed in December 2017 includes changes that affect businesses. One of these changes allows businesses to write off most depreciable business assets in the year they place them in service.
100-percent depreciation deduction benefits business taxpayers Read More »
Business Owners: Bonus Depreciation
Every company needs to upgrade its assets occasionally, whether desks and chairs or a huge piece of complex machinery. But before you go shopping this year, be sure to brush up on the enhanced bonus depreciation tax breaks created under the Tax Cuts and Jobs Act (TCJA) passed late last year.
Business Owners: Bonus Depreciation Read More »