Are you thinking of renovating a building you own in an historic part of town? Before you start knocking down walls, find out if the building qualifies as an historic structure. It could result in…

As we gear up for the fourth quarter, we’re getting closer to the first tax season with the new tax law in effect. Since the introduction of the Tax Cuts and Jobs Act last December,…

What is Self-Rental? Let’s Talk Tax Reform Self-Rental is a term that describes the activity when a taxpayer rents property to his or her own business.  This is a very common practice.  For instance, a…

The most sweeping tax overhaul in decades brings lots of changes in federal tax code for businesses, ranging from a lower corporate tax rate to big tax savings for asset purchases. But there are also…

What is the SALT deduction limit? One of the provisions of the Tax Cuts and Jobs Act that was passed in December of 2017 limits the itemized deduction for state and local taxes (SALT) to…

Do you work from home? Frequently, you can qualify for home office deductions offsetting taxable income from a sole proprietorship or other small business. However, if you’re not careful, one misstep can cost you your…

While giving gifts to charity is usually a reward on its own, donors could often also expect to get a tax deduction. Because of recent tax law changes, that may not be the case this…

Now is the ideal time to schedule a tax planning session. Your 2017 tax return outcome is still fresh, and it’s early enough in the year to take advantage of the numerous tax law changes…