- Tax Reform Dealt Teachers a Raw Deal
- It is quite common for teachers to spend their own money on classroom supplies – so common, in fact, that a few years back, Congress created a special deduction that allowed teachers to deduct up to $250 above-the-line for classroom supplies. “Above-the-line” means the deduction can be claimed whether or not the taxpayer itemizes their deductions. Although the $250 amount is subject to an inflation adjustment, there has been no increase to the limit, at least through 2018.
- Year-end Individual Strategies: Bunching
- Learn if bunching might be a good tax saving strategy for you.
- Rejoice - Business Meals Are Still Deductible
- If you are a business owner who is accustomed to treating clients to sporting events, golf getaways, concerts and the like, you were no doubt saddened by the part of the tax reform that passed last December that did away with the business-related deductions for entertainment, amusement or recreation expenses, beginning in 2018. You can still entertain your clients; you just can’t deduct the costs of doing so as a business expense.
- Tax Reform Infographic
- We put together a tax reform infographic that summarizes the old and new tax law. Learn more.
- Take Two. When Should You Amend a Previously Filed Tax Return?
- When should you amend a previously filed tax return?
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