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2018 – 9/14 The House Ways and Means Committee on Thursday passed a “Tax Reform 2.0” bill along partisan lines. The full U.S. House is expected to take up the tax measures at the end of September or sometime in October. It’s not expected that the Senate will vote on the three bills that comprise…
2018 – 9/14 Taxpayers couldn’t substantiate business deductions. A married couple deducted car and truck expenses for their home-building S corporation’s alleged use of a passenger vehicle. But the IRS and the U.S. Tax Court denied them. The taxpayers didn’t provide a log or other evidence showing the business use of the vehicle. The court…
Does your business reimburse employees’ work-related travel expenses? If you do, you know that it can help you attract and retain employees. If you don’t, you might want to start, because changes under the Tax Cuts and Jobs Act (TCJA) make such reimbursements even more attractive to employees. Travel reimbursements also come with tax benefits,…
