Many Tax-Related Limits Affecting Businesses Increase for 2019

A variety of tax-related limits affecting businesses are annually indexed for inflation, and many have gone up for 2019. Here’s a look at some that may affect you and your business. Deductions Section 179 expensing: Limit: $1.02 million (up [...]

By |2019-03-11T19:52:56-04:00January 22nd, 2019|Categories: Blog, Tax|Tags: , , |0 Comments

Medical and Dental Expenses: What Can You Deduct?

Can you deduct medical and dental expenses? That's a complicated question. To start with, your deductions must exceed 7.5 percent of your adjusted gross income. And they have to fall into an IRS-approved category. Deductible medical expenses may include, [...]

By |2019-03-11T19:54:46-04:00January 15th, 2019|Categories: Blog, Tax|Tags: |0 Comments

Is there Still Time to Pay 2018 Bonuses and Deduct them on your 2018 Return?

There aren’t too many things businesses can do after a year ends to reduce tax liability for that year. However, you might be able to pay employee bonuses for 2018 in 2019 and still deduct them on your 2018 [...]

By |2019-03-11T19:59:35-04:00January 7th, 2019|Categories: Blog, Tax|Tags: , |0 Comments