Tax Law Changes: Meals and Entertainment

One of the many changes to the tax code modifies the deductibility of meals and entertainment expenditures by businesses. The following modifications apply to tax year beginning after December 31, 2017. Below is a list of updated provisions for meal and entertainment expenditures unde
Tax deduction

Meals & Entertainment Expense Deduction

Many businesses have a difficult time determining which meals & entertainment (M&E) expenses are 50% deductible and 100% deductible. Informing your employees to keep proper documentation in order to prove amount, date and place, the business purpose, and who attended will help

Expensing vs. Capitalizing

De Minimis Safe Harbor Limit For tax years beginning on January 1, 2016 or later, the IRS has increased the de minimis safe harbor threshold for expensing from $500 to $2,500 per invoice or item for taxpayers without applicable financial statements. This limitation is for purposes for

Benefits of Utilizing Statement of Cash Flows

GAAP(Generally Accepted Accounting Principles) Net Income is Great, But How are My Company’s Cash Flows? Chances are your business will utilize the Income Statement and Balance Sheet when analyzing its annual, semi-annual, quarterly, and monthly results. However, the Statement o

Filing for Social Security: What distribution strategy will work for you?

About 8,000 Americans reach the traditional retirement age of 65 every day, according to AARP. If you’re one of these preretirees, you have a lot of decisions to make about your retirement finances — including when you should start receiving monthly Social Security retirement benefits