Claiming bonus depreciation on your 2017 tax return may be particularly beneficial

05 February, 2018

With bonus depreciation, a business can recover the costs of depreciable property more quickly by claiming additional first-year depreciation for qualified assets. The Tax Cuts and Jobs Act (TCJA), signed into law in December, enhances bonus depreciation. Typically, taking this break is beneficial. But in certain situations, your business might save more tax long-term by […]

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Client Tax Update – Tax Cuts and Jobs Act H.R. 1

19 January, 2018

We invite you to click the link below for the Smith Dukes summary of the Tax Cuts and Jobs Act H.R. 1 that was signed into law on December 20, 2017.  Please contact us if you have questions or would like to discuss how these issues may affect you and your tax situation.   Client […]

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New tax law gives pass-through businesses a valuable deduction

08 January, 2018

Although the drop of the corporate tax rate from a top rate of 35% to a flat rate of 21% may be one of the most talked about provisions of the Tax Cuts and Jobs Act (TCJA), C corporations aren’t the only type of entity significantly benefiting from the new law. Owners of noncorporate “pass-through” […]

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Tax Cuts and Jobs Act: Key provisions affecting businesses

26 December, 2017

  The recently passed tax reform bill, commonly referred to as the “Tax Cuts and Jobs Act” (TCJA), is the most expansive federal tax legislation since 1986. It includes a multitude of provisions that will have a major impact on businesses. Here’s a look at some of the most significant changes. They generally apply to […]

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