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 from $1 million) Phaseout: $2.55 million (up from $2.5 million) Income-based phase-ins for certain limits on […]
Many Tax-related Limits Affecting Businesses Increase For 2019 Read More »
Most TCJA provisions went into effect in 2018 and apply through 2025 or are permanent, but two major changes affect individuals beginning in 2019: 1) While the TCJA reduced the medical expense deduction threshold from 10% of adjusted gross income to 7.5%, the reduction applies only to 2017 and 2018. So for 2019, the threshold
2 Major Tax Law Changes For Individuals In 2019 Read More »
A new accounting rule for reporting leases goes into effect in 2019 for public companies. Although private companies have been granted a one-year reprieve, no business should wait until the last minute to start the implementation process. Some recently revised guidance is intended to ease implementation. Here’s an overview of what’s changing. Old rules, new
Get Ready For The New Lease Standard Read More »
