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As Spring finally arrives after the long winter, we tend to think about spring cleaning tasks in our homes and gardens, but do we think about our finances?  Here are a few suggestions for your financial Spring-cleaning list. Set Some Goals: We normally think about setting goals as a New Year’s resolution sort of thing,

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Tax reform has had a significant impact on the tax deductions you can now claim for business entertainment and meals. The chart below shows you how the Tax Cuts and Jobs Act treats 12 meal and/or entertainment events. 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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Taxpayers will be able to file federal income taxes starting next filing season on a new postcard-sized Form 1040. The IRS officially released the draft 2018 Form 1040 on June 29. Draft Form 1040 The new Form 1040 will be finalized this summer as IRS works with the tax professionals to finalize the form. The

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Often in an IRS audit, the examiner will ask for your mileage log at the beginning of the audit. If you do not have a mileage log, you are in what former presidential candidate Ross Perot called deep doo-doo. Think about it. If you don’t have a log for mileage, what is the IRS going

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