Skip to main content Skip to search

recent blog posts

Recently passed tax bill denies (effective for amounts incurred after 12/31/17)
tax rules updates usa

Recently passed tax bill denies (effective for amounts incurred after 12/31/17)

  • 01/21/2018
  • by admin
  • No Comments

Recently passed tax bill denies (effective for amounts incurred after 12/31/17) the deduction for business entertainment (events, athletic events, recreation and amusement, etc.).  The 50% deduction for business meals is still available assuming all the requisite requirements are maintained (documented as…

Tax Reform Legislation Signed into Law in 2017
us-tax-law-new2017

Tax Reform Legislation Signed into Law in 2017

  • 12/31/2017
  • by admin
  • No Comments

President Trump recently signed the tax reform bill into law, and it makes major changes to the U.S. tax code for both individuals and corporations.

1) New individual tax rates and brackets
For 2018 through 2025, the new law keeps seven tax brackets, but six are at lower rates. In 2026, the current-law rates and brackets would return. The temporary rate brackets under the new law are as follows.