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TCJA changes to employee benefits tax breaks: 4 negatives and a positive

  The Tax Cuts and Jobs Act (TCJA) includes many changes that affect tax breaks for employee benefits. Among the…
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TCJA temporarily lowers medical expense deduction threshold

With rising health care costs, claiming whatever tax breaks related to health care that you can is more important than…
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Defer tax with a Section 1031 exchange, but new limits apply this year

Normally when appreciated business assets such as real estate are sold, tax is owed on the appreciation. But there’s a…
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Make sure repairs to tangible property were actually repairs before you deduct the cost

Repairs to tangible property, such as buildings, machinery, equipment or vehicles, can provide businesses a valuable current tax deduction —…
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Use benchmarking to swim with the big fish

You may keep a wary eye on your competitors, but sometimes it helps to look just a little bit deeper.…
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Claiming bonus depreciation on your 2017 tax return may be particularly beneficial

With bonus depreciation, a business can recover the costs of depreciable property more quickly by claiming additional first-year depreciation for…
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What’s your mileage deduction?

Individuals can deduct some vehicle-related expenses in certain circumstances. Rather than keeping track of the actual costs, you can use…
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Families with college students may save tax on their 2017 returns with one of these breaks

Whether you had a child in college (or graduate school) last year or were a student yourself, you may be…
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Can you deduct home office expenses?

Working from home has become commonplace. But just because you have a home office space doesn’t mean you can deduct…
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Use benchmarking to swim with the big fish

  You may keep a wary eye on your competitors, but sometimes it helps to look just a little bit…
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