Apr 24, 2020 | Income Tax
As you likely know, the TCJA increased bonus depreciation to 100 percent. Unlike most tax provisions that involve a tax election, this one requires you to elect out if you don’t want it. For example, you (or your corporation) buy two $50,000 trucks, each with a gross...
Apr 23, 2020 | Charitable Contributions
If you are in business for yourself—say, as a corporation or self-employed—payroll taxes and self-employment taxes are likely two of your biggest tax burdens. Here’s some possible good news: Congress decided to give you significant relief from these taxes due to the...
