MF, Author at Philadelphia CPA
6
archive,author,author-mf,author-6,ajax_fade,page_not_loaded,,qode_grid_1300,footer_responsive_adv,qode-content-sidebar-responsive,qode-child-theme-ver-,wpb-js-composer js-comp-ver-5.1.1,vc_responsive
 

Author: MF

You compete for employee talent in many ways--perhaps your company may be eligible for the medical and family leave policy. The good news on this front is that your federal government may have given you a tax credit (yes, that lovely dollar-for-dollar offset to your taxes)...

 Hip, hip, hooray for the IRS! In Notice 2018-76, the IRS states that client and prospect business meals continue as tax deductions under the Tax Cuts and Jobs Act. This is very good news indeed. Under this new IRS guidance, you may deduct 50 percent of your client...

I know that you are thinking of buying a new or replacement vehicle. This brings up some tax issues to consider. First, should you own the vehicle in your personal name, or should you have your corporation own the vehicle? Let’s say that it makes financial sense...

 You probably think you can’t take money out of your IRAs before age 59 1/2 unless you meet a narrow exception to the unpleasant 10 percent penalty on early distributions. But that’s not true. We have a variety of planning opportunities here. For example, you don’t pay taxes...

Here’s the updated strategy: deduct your client and business meals as if tax reform never took place. Wow. Is this aggressive? Not if the IRS comes out with regulations that follow a model set by the American Institute of CPAs, or the Joint Committee on Taxation...