Alternative Minimum Tax — What’s It Like Today?
The Tax Cuts and Jobs Act made many changes to the individual tax law, including the alternative minimum tax. One of the goals of the new tax law was to reduce the impact of the AMT or even to [...]
A fresh look at percentage of completion accounting
How do you report revenue and expenses from long-term contracts? Some companies that were required to use the percentage of completion method (PCM) under prior tax law may qualify for an exception that was expanded by the Tax Cuts and [...]
IRS Issues Guidance on Meal and Entertainment Deductions
The Internal Revenue Service has issued guidance on the business expense deduction for meals and entertainment following law changes in the Tax Cuts and Jobs Act. The 2017 TCJA eliminated the deduction for any expenses related to activities generally [...]