Taxpayers who previously took the home office deduction as employees will no longer be able to take the same “miscellaneous expense” deduction on their tax returns.
FF&F News & Events
It’s of crucial importance to understand the methods by which the IRS contacts and retrieves information from taxpayers, as well as the various types of fraud that have become prevalent in recent years.
Knowing the various regulations and requirements that apply to you in a home sale will help you ensure that you’re taking all the right steps to decrease or eliminate your tax liabilities as they relate to the sale.
Supreme Court Overrules Prior Decisions Requiring Physical Presence to Subject Out-of-State Sellers to Sales Tax
On June 21, 2018, in South Dakota v. Wayfair, Inc., ET Al, the Supreme Court of the United States held that physical presence is no longer required to subject out-of-state sellers to a state’s sales tax laws.
The new tax law presents some key changes that affect business entities and how a business should treat expenses for meals, travel & entertainment for tax purposes as of January 1, 2018.
The 2017 Tax Cuts and Jobs Act created a new federal tax deduction for individual taxpayers realized by a partnership, S corporation or a sole proprietorship. While a number of limitations apply, this deduction has the potential to reduce the effective tax rate on such income.
FF&F is proud to join Alliott Group in sharing the release of Issue 3 of its publication, The Expat Post. This special edition was released in conjunction with Alliott Group’s 2018 Global Mobility Conference in Amsterdam, and its cover story focuses on the tax & legal risks involved in short-term cross-border assignments.
Oftentimes taxpayers do not fully understand the circumstances under which estimates should or must be paid. There are a few intricacies that govern this topic; this blog aims to provide an understanding of the basic rules that dictate the quarterly estimated tax requirement.