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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...

  The Tax Cuts and Jobs Act (TCJA), known as tax reform, made it more difficult for you to deduct your legal fees.   The new tax reform law suspended (killed is a better word) your legal fees as 2 percent miscellaneous itemized deductions for tax years 2018...

As you likely know, tax reform killed the ability for you to deduct business expenses for your hobby activity. But buried in IRS Regulation 1.183-1(e) is this sentence: “The taxpayer may determine gross income from any activity by subtracting the cost of goods sold from the...

Tax reform wiped out 50% business-entertainment deductions--this means you can no longer write-off "directly related or associated" business-entertainment expenses. Therefore, wave good-bye to deductible concerts, ballgames, and such with clients and prospects. Now for the good news! Here's 6 strategies that work after tax reform. Rent...

Congress created the qualified improvement property category in the Tax Cuts and Jobs Act with the idea that you could fully expense such qualified property with bonus depreciation.   But Congress made an error in the law, and now you can’t use bonus depreciation for qualified improvement...