Deduction or Capitalization?

The new law has an impact on many aspects of tax filings this year. The decision to capitalize certain expenses that were deducted in prior years is a decision that may have more of a tax impact for 2018. With the $10,000 state and local tax deduction limitation, and...

read more

New Guidance on the New Deductions from the IRS

The IRS recently issued guidance on the new deduction for up to 20% of qualified business income (QBI) from pass-through entities under the Tax Cuts and Jobs Act (TCJA). It aims to clarify when the QBI deduction is available for income from rental real estate...

read more