City’s Net Assets Plunge by over $1 Billion A few days before Christmas, the City of Houston released its Comprehensive Annual Financial Report (CAFR) for FY2017-2018. In recent years, the City’s standard operating procedure has been to release the CAFR over the holidays to minimize the attention it will receive because the news is generally […]
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[vc_row][vc_column][vc_column_text] This article gives you five powerful business tax deduction strategies that you can easily understand and implement before the end of 2018. 1. Prepay Expenses Using the IRS Safe Harbor You just have to give thanks to the IRS for its tax-deduction safe harbors. IRS regulations contain a safe-harbor rule that allows cash-basis
2018 Last-Minute Year-End General Business Deductions Read More »
The IRS has issued Notice 2018-76 as its initial understanding of the deduction for entertainment under the Tax Cuts and Jobs Act (TCJA). The important part of an IRS Guidance is that taxpayers can rely on it. IRC Section 274 specifies the rules for deducting business meals and entertainment. Meals and entertainment are considered together
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[vc_row][vc_column][vc_column_text] Personal Savings For some time now, the US has lagged behind the many 1st world economies in terms of personal savings. The French, for example save more than 3 times as much as their US counterparts even with significantly higher income taxes. Oddly, when economic downturns hit, personal savings rates in that country go
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[vc_row][vc_column][vc_column_text]Americans don’t do a great job of saving for a rainy day, but Tax Reform 2.0 might help with something called the Universal Savings Account. Reports indicate that contributions to one of these would be made in after-tax dollars, but earnings could be withdrawn tax-free. Want know more? Come hear US Rep Kevin Brady, the
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