REPEAL OF ENTERTAINMENT DEDUCTIONS

REPEAL OF ENTERTAINMENT DEDUCTIONS

The Tax Cuts & Jobs Act (TJCA) repealed the deduction for business entertainment beginning in 2018.  This includes expenditures for taking clients to sporting events and shows, and paying for season tickets for various sporting events.   Generally, any dues for...
Quickbooks Quick Tip

Quickbooks Quick Tip

Have you ever posted to incorrect accounts or classes for a few months in Quickbooks?  One way to resolve the problem is to go back to each transaction and change it manually.  This is both tedious and time consuming. Fortunately, Quickbooks has an accountant’s tool...
Home Office Expenses: What you need to know

Home Office Expenses: What you need to know

If you use part of your home regularly and exclusively for business you may be entitled to a deduction for the expenses associated with maintaining that work space whether you are self-employed or an employee. However, for an employee expenses are deductible only if...
What am I Forgetting?

What am I Forgetting?

Spending a little bit of time thinking about your expenses for the year might lead to lower taxes. We often see taxpayers cheat themselves when it comes to the following: Medical expenses for themselves and their dependents. These are harder to deduct for federal...