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Can you turn business losses into tax relief?

Business Deductions, Business Income Tax, C Corporation, Net Operating Loss (NOL), Small Business, Small Business Owners, Tax Planning /

Even well-run companies experience down years. The federal tax code may allow a bright strategy to lighten the impact. Certain losses, within limits, may be used to reduce taxable income in later years. Who qualifies? The net operating loss (NOL) deduction levels the playing field between businesses with steady income and those with income that […]

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A review of significant TCJA provisions impacting individual taxpayers

529 Saving Plan, Exemptions, Gift and Estate Tax, Income Tax, Individual Income Tax, Internal Revenue Service, Tax, Tax Cuts and Job Acts (TCJA), Tax Deduction, Tax Planning, Tax Savings /

Now that 2019 has begun, there isn’t too much you can do to reduce your 2018 income tax liability. But it’s smart to begin preparing for filing your 2018 return. Because the Tax Cuts and Jobs Act (TCJA), which was signed into law at the end of 2017, likely will have a major impact on

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