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Tax planning will become more important than ever now that the TCJA has completely transformed the tax code landscape. There are significant implications for tax planning on every level, from individuals to businesses.

With such sweeping changes coming in with that Tax Cuts and Jobs Act (TCJA), there has been a fair amount of confusion with how certain deductions are handled. In particular, there are frequent questions about how entertainment and client meal expenses are handled.

The Tax Cuts and Jobs Act (TCJA), signed by President Trump in Dec. 2017, has significant implications for how businesses will assess the choice of entity.

In practice, the sharing economy is nothing new. It’s been around for a thousand years, in fact. Societies have always shared the use of assets.

But then the internet came along, and following close behind was Big Data.

What is an exit strategy?

Artificial Intelligence (AI) has seen stunning development in recent years, and these improvements are wiggling their way into the day-to-day operations of small businesses faster than many business owners realize.

There are few experiences that conjure such dread and stress as when a taxpayer has received notification from the Internal Revenue Service that he or she will undergo an audit of their tax returns.

Frankly, it feels like a punch in the gut when you first read those words.

(Pursuant To IR-2018-66, March 21, 2018) Internal Revenue Service

Every year the IRS issues its “Dirty Dozen” report to highlight the biggest scams that the public needs to avoid.

The IRS has released the following press release:

In practice, the sharing economy is nothing new. It’s been around for a thousand years, in fact. Societies have always shared the use of assets.

But then the internet came along, and following close behind was Big Data.

If you’ve formed certain habits related to how you handle meals, entertainment, transportation, and parking as it relates to your business and taxes, the time to change those habits has come.