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  • The U.S. Department of Labor Finalizes the New Overtime Rule

    October 14, 2019
    The U.S. Department of Labor (DOL) has released the finalized rule on overtime exemptions for white-collar workers under the Fair Labor Standards Act.... Read more
  • IRS Issues Final QBI Real Estate Safe Harbor Rules

    October 7, 2019
    Earlier this year, the IRS published a proposed safe harbor giving owners of certain rental real estate interests the opportunity to take advantage of the qualified business income (QBI) deduction. The IRS has now released final guidance (Revenue Procedure 2019-38) on the safe harbor that clearly lays out the requirements that taxpayers must satisfy to benefit.... Read more
  • IRS Provides Additional Guidance on Bonus Depreciation Under the TCJA

    September 25, 2019
    The IRS has released final regulations and another round of proposed regs for the first-year 100% bonus depreciation deduction. ... Read more
  • Congress Acts to Reform the IRS, Enhance Taxpayer Protections

    June 24, 2019
    The U.S. Senate has passed, and President Trump is expected to sign into law, a broad package of reforms aimed at the IRS. ... Read more
  • IRS Wheels Out Additional Guidance On Company Cars

    June 3, 2019
    The IRS has updated the inflation-adjusted “luxury automobile” limits on certain deductions taxpayers can take for passenger automobiles — including light trucks and vans — used in their businesses. ... Read more
  • IRS Updates Rules For Personal Use of Employer-Provided Vehicles

    May 28, 2019
    The IRS recently announced the inflation-adjusted maximum value of an employer-provided vehicle under the vehicle cents-per-mile rule and the fleet-average value rule. ... Read more
  • IRS Provides QBI Deduction Guidance in the Nick of Time

    January 29, 2019
    When President Trump signed into law the Tax Cuts and Jobs Act (TCJA) in December 2017, much was made of the dramatic cut in corporate tax rates. But the TCJA also includes a generous deduction for smaller businesses that operate as pass-through entities, with income that is “passed through” to owners and taxed as individual income.... Read more
  • IRS Lowers the Threshold for 2018 Underpayment Tax Penalties

    January 18, 2019
    The IRS has some good news for certain taxpayers — it’s lowering the threshold that subjects taxpayers to underpayment penalties if their 2018 federal income tax withholding and estimated tax payments came in under their actual tax liabilities for the year.... Read more
  • A Refresher on Major Tax Law Changes for Small-Business Owners

    January 2, 2019
    With the biggest tax law changes in decades — under the Tax Cuts and Jobs Act (TCJA) — generally going into effect beginning in 2018, most businesses and their owners will be significantly impacted. So, refreshing yourself on the major changes is a good idea.... Read more
  • Wisconsin Enacts a Pass-Through Entity Tax

    December 20, 2018
    On December 14, 2018, Wisconsin Governor Scott Walker signed Wisconsin Act 368 as a response to the Tax Cuts and Jobs Act. This recently enacted legislation allows S corporations, partnerships and limited liability companies to be taxed at the entity level, rather than passing through the income to its shareholders, partners, or members.... Read more
  • Act Now to Cut Your 2018 Tax Bill

    October 31, 2018
    The Tax Cuts and Jobs Act (TCJA) created more than 100 new tax provisions — a staggering thought as you begin to prepare for the next filing season. The good news is that these and some of the surviving provisions create a wealth of year-end planning opportunities.... Read more