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Ways to Manage the Limit on the Business Interest Expense Deduction
March 5th, 2025
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Business Tax Services |
Tax |
Tax Credits
Prior to the enactment of the Tax Cuts and Jobs Act (TCJA), businesses were able to claim a tax deduction for most business-related interest expense. The TCJA created Section 163(j), […]
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IRS Workforce Reduction Likely to Have Adverse Consequences for Taxpayers
March 4th, 2025
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Business Tax Services |
Tax |
Tax Credits
The federal government on February 19 announced the layoff of many IRS “probationary” employees (those who have worked at the IRS for fewer than 12 months or who have been […]
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Bonus Depreciation is Phasing Out: Learn How These Changes are Taking Effect and How Section 179 Can Help
February 28th, 2025
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By Matt Latham |
Business Tax Services |
Tax |
Tax Credits
In 2002, Bonus Deprecation first went into effect, serving as a groundbreaking new tax policy. Instead of traditionally spreading out deprecation over an asset’s useful life, businesses now had the […]
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Trump Tariffs on Canada, Mexico Delayed, China Responds With its Own Tariffs
February 27th, 2025
In a historic “first,” President Trump signed three executive orders (EOs) on February 1, 2025, imposing new 25% ad valorem tariffs that would apply to most merchandise imported into the […]
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Be Ready to File Your BOI Reports
February 26th, 2025
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By Jeff Mason |
Business Tax Services |
Tax
It has been a tumultuous few months for many small businesses. The Financial Crimes Enforcement Network (FinCEN) initially set a January 1, 2025, deadline for certain small business entities to […]