Theft loss Deduction

Use the tax code to make business losses less painful

Business Deductions, Net Operating Loss (NOL), Small Business, Small Business Owners, Small Business Tax Tips, Tax Code, Tax Cuts and Job Acts (TCJA) / Douglas Freeman

Whether you’re operating a new company or an established business, losses can happen. The federal tax code may help soften the blow by allowing businesses to apply losses to offset taxable income in future years, subject to certain limitations. Qualifying for a deduction. The net operating loss (NOL) deduction addresses the tax inequities that can […]

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Some of your deductions may be smaller (or nonexistent) when you file your 2018 tax return

2018 Tax Return, Business Income Tax, Deductable Expenses, Deductions, Income Tax, Individual Income Tax, Small Business, State Tax, Tax, Tax Cuts and Job Acts (TCJA), Tax Deduction / Douglas Freeman

While the Tax Cuts and Jobs Act (TCJA) reduces most income tax rates and expands some tax breaks, it limits or eliminates several itemized deductions that have been valuable to many individual taxpayers. Here are five deductions you may see shrink or disappear when you file your 2018 income tax return: 1. State and local

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