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The Tax Cuts and Jobs Act (TCJA) virtually doubled the standard deduction through 2025. So fewer taxpayers are itemizing deductions these days. Instead, more people are claiming the standard deduction. Read more
Are the costs of holiday parties tax deductible? Despite a recent crackdown on business entertainment expense deductions, your company's holiday bash may still qualify for write-offs for the 2024 tax year. You might even be allowed to write off the entire cost, unlike most other meal and beverage…
Artificial intelligence (AI) is fast evolving from an experimental, emerging technology to a critical tool for real estate firms.
The limits imposed by IRC Section 163(j) can significantly impact businesses, especially those with high-interest expenses. Here’s a breakdown of the essential information and the steps you should take to mitigate its effects.
Navigating the maze of federal taxes can be daunting. Many tax terms are confusing, whether you're a business owner, a seasoned individual taxpayer or someone filing a tax return for the first time. To make matters worse, significant tax law changes may be on the horizon due to the upcoming election…
Businesses are returning to their regular work premises in droves. About 65% of U.S. businesses expect to implement return-to-office policies by the end of 2024, in either a full-time or hybrid capacity, according to Resume Builder. As a result, your business may be making improvements to an…
The "kiddie tax" prevents parents from shifting income-producing assets to children to take advantage of their lower tax rate. It was introduced as part of the Tax Reform Act of 1986. Before this law, high-income parents and other family members could divert some investment income and gains to…