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September 17, 2020

5 key points about bonus depreciation

Under current law, 100% bonus depreciation will be phased out in steps for property placed in service in calendar years 2023 through 2027. Thus, an 80% […]
September 10, 2020

CARES Act made changes to excess business losses

The Coronavirus Aid, Relief and Economic Security (CARES) Act made changes to excess business losses. This includes some changes that are retroactive and there may be […]
August 6, 2020

Why do partners sometimes report more income on tax returns than they receive in cash?

If you’re a partner in a business, you may have come across a situation that gave you pause. In a given year, you may be taxed […]
July 30, 2020

Even if no money changes hands, bartering is a taxable transaction

During the COVID-19 pandemic, many small businesses are strapped for cash. They may find it beneficial to barter for goods and services instead of paying cash […]