5 Tax Deductions That Disappeared in 2018

Tax Reform, Important Tax Changes 2018, Big 3

Under tax reform, taxpayers who itemize should be aware that deductions they may have previously counted on to reduce their taxable income have disappeared in 2018.

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Meal & Entertainment Under the New Tax Law

Tax Reform, Meal & Entertainment

The new tax act established new limitations on the deductibility of certain business meals and entertainment expenses. Beginning January 1, 2018, entertainment expenses are nondeductible unless they fall under the specific exceptions under the new tax law.

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2017, Tax Reform, President Trump

On Wednesday, April 26th, the White House released President Donald Trump’s tax reform goals and key priorities. The reform proposes slashed corporate tax rates, flattened individual marginal income tax brackets, and repeal of the estate and alternative minimum taxes.

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