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  • 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
  • Year-end Tax Planning for Businesses in the New Tax Environment

    October 18, 2018
    The passage of the Tax Cuts and Jobs Act (TCJA) in late 2017 brought significant changes to the tax landscape. As the first tax season under the law looms on the horizon, new year-end tax planning strategies are emerging. Meanwhile, some of the old tried-and-true strategies have changed and others remain viable.... Read more
  • The Business Meal Expense Deduction Lives on Post-TCJA

    October 10, 2018
    The Tax Cuts and Jobs Act (TCJA) was packed with goodies for businesses, but it also seemed to eliminate the popular meal expense deduction in some situations. Now, the IRS has issued transitional guidance — while it works on proposed regulations — that confirms the deduction remains allowable in certain circumstances and clarifies when businesses can claim it.... Read more
  • IRS Issues New TCJA Guidance For Businesses

    October 2, 2018
    The Tax Cuts and Jobs Act (TCJA) created a new general business tax credit for certain businesses that grant their qualifying employees paid family and medical leave in 2018 and 2019. ... Read more
  • 3 Bills Form Tax Reform 2.0

    September 20, 2018
    The bills focus on making permanent certain provisions of the Tax Cuts and Jobs Act (TCJA) that affect individuals, families, and small businesses. ... Read more
  • IRS Regs Detail how Businesses can “Aggregate” for the Pass-Through Income Deduction

    September 4, 2018
    One of the most valuable tax breaks in the Tax Cuts and Jobs Act (TCJA) is the new deduction for up to 20% of qualified business income (QBI) from pass-through entities. The IRS recently issued proposed regulations that help clarify who can benefit from the deduction. ... Read more
  • IRS Issues Proposed Regulations on the Pass-Through Business Income Deduction

    August 21, 2018
    The IRS recently released highly anticipated regulations addressing the deduction for up to 20% of qualified business income (QBI) from pass-through entities. The deduction was a major component of the Tax Cuts and Jobs Act, which became law late last year. It has also been referred to as the pass-through deduction, the QBI deduction or the Section 199A deduction.... Read more
  • IRS Issues Guidance on New Bonus Depreciation Rules

    August 14, 2018
    The Tax Cuts and Jobs Act (TCJA) significantly expands bonus depreciation under Section 168(k) of the Internal Revenue Code for both regular tax and alternative minimum tax (AMT) purposes. Now, the IRS has released proposed regulations that clarify the requirements that businesses must satisfy to claim bonus depreciation deductions.... Read more
  • Reminder - Sales Tax Holiday Starts Today!

    August 1, 2018
    Let the sales tax holiday begin! Wisconsin has declared a sales tax holiday beginning today, Wednesday, August 1st through Sunday, August 5th, 2018. During this time frame, a variety of items purchased for personal use will not be subject to sales tax.... Read more
  • Wisconsin is Quick to Adopt Wayfair Rule

    July 16, 2018
    Last week the Wisconsin Department of Revenue (WDOR) announced in a notice published on their website that they would adopt the Wayfair Rule and require out of state companies that anticipate more than $100,000 in annual sales to Wisconsin customers (or have more than 200 transactions with Wisconsin customers annually) to register with Wisconsin by October 1, 2018 and begin collecting sales tax on sales to Wisconsin customers.... Read more
  • Supreme Court Opens Door to Taxation of Online Sales

    June 27, 2018
    In a much-anticipated ruling that confounded the expectations of many court watchers, the U.S. Supreme Court has given state and local governments the green light to impose sales taxes on out-of-state online sales.... Read more
  • Reminder - Wisconsin's Child Tax Rebate

    June 25, 2018
    Here’s your final chance to apply for your Wisconsin tax rebate! If you claimed a qualifying child as a dependent on your 2017 tax return, you only have until next Monday, July 2nd to apply for your refund. ... Read more
  • Sales Tax Holiday

    June 6, 2018
    Wisconsin has declared a sales tax holiday from Wednesday, August 1st through Sunday, August 5th, 2018. During this time frame, a variety of items purchased for personal use will not be subject to sales tax.... Read more
  • Wisconsin's Child Tax Rebate

    May 8, 2018
    Due to the strong economy and sound fiscal management, Wisconsin is looking to share a portion of the state budget surplus by offering a $100 sales tax rebate for the cost of raising your child during 2017. ... Read more
  • Home Equity Borrowers Get Good News From The IRS

    March 7, 2018
    Passage of the Tax Cuts and Jobs Act (TCJA) in December 2017 has led to confusion over some of the changes to longstanding deductions, including the deduction for interest on home equity loans. In response, the IRS has issued a statement clarifying that the interest on home equity loans, home equity lines of credit and second mortgages will, in many cases, remain deductible under the TCJA — regardless of how the loan is labeled.... Read more
  • New Budget Agreement Brings Additional Tax Changes

    February 19, 2018
    The Bipartisan Budget Act of 2018 (BBA), which President Trump signed into law on February 9, 2018, contains several tax-related provisions that could reduce the amounts some taxpayers owe for the 2017 tax year.... Read more
  • Foreign Asset and Bank Account Reporting and Withholding

    February 14, 2018
    The IRS continues to rigorously enforce failures to report foreign financial assets and accounts. The minimum penalty is $10,000 for each year the reporting is not made. In the case of foreign bank and financial accounts, if the failure to report is willful, the penalty is increased to 50% of the highest balance in the account for each year the account was not reported. In addition, criminal penalties, (including imprisonment), are also possible. The following will help assist you in identifying potential reporting and withholding obligations.... Read more
  • IRS Issues Updated 2018 Withholding Tables

    January 24, 2018
    In the wake of passage of the Tax Cuts and Jobs Act (TCJA) late last year, the IRS has taken one of the first critical steps to institute the law’s overhaul of the federal income tax regime. ... Read more
  • How will the Tax Cuts and Jobs Act affect your estate plan?

    January 24, 2018
    One thing the TCJA doesn’t do is repeal the federal gift and estate tax. It does, however, temporarily double the combined gift and estate tax exemption and the generation-skipping transfer (GST) tax exemption, creating new estate planning challenges and opportunities.... Read more
  • New Tax Law Provides More Generous Depreciation-Related Tax Breaks

    January 17, 2018
    If your business is buying new assets in 2018, you’ll be able to benefit in several ways under the new tax reform law, commonly referred to as the “Tax Cuts and Jobs Act” (TCJA), which was signed into law by President Trump on December 22. You even may be able to take advantage of some of the enhancements on your 2017 tax return!... Read more