Is Now the Best Time to Consider Relocating to a Low or No Income Tax State?
The Tax Cuts and Jobs Act, will have many implications for those in all tax brackets, and in particular, High Net Worth Individuals.
State income taxes will only be deductible to the extent of $10,000 combined with your real estate taxes, and no longer fully deductible on your federal return. This means that now may be the best time to consider relocating to a state with a lower, or no, income tax.
Join us on Tuesday, March 27th @ 3:30PM for a MBAF signature event where you will learn about artificial intelligence and its effects on every day business. Our event will consist of a short presentation, a power panel of subject-matter experts, followed by a networking cocktail reception with top level executives and professionals from our community.
MBAF ranked fifth in the large company category of South Florida Business Journal's 2018 "Best Places to Work". As a 2017 Best Places to Work honoree and recipient of several other workplace recognitions this year, the top-40 public accounting firm has established itself as an industry leader in employee satisfaction.
Meals and Entertainment Expenses Dramatically Changed Under New Tax Law
There are many changes under the new Tax Cuts and Jobs Act (TCJA) that impact businesses. One in particular that business owners need to be aware of is new limitations on the deductibility of meals and entertainment expenses. However, with all the changes, it may not be so clear as to what meals and entertainment expenses qualify as 50% deductible, which are 100% deductible, and which are non-deductible.
In February 2016, FASB issued ASU No. 2016-02, Leases (Topic 842). This ASU changes how a lessee should account for its lease arrangements and can have a significant impact on companies, especially companies that enter into numerous leases. If you have not started to analyze the impact of the new standard, the time to act is now. This publication provides you with a convenient summary of the objective of Topic 842, key considerations, and the related impact the guidance will have on lessees and lessors.
MBAF’s webinar on the Tax Reform bill covers business and personal tax revisions as well as the latest developments in estate planning. You’ll learn what’s in the new tax bill, what it means for you and your business, and how to strategize for 2018 and beyond.
Most tax payers know of the far-reaching authority that the IRS has to collect unpaid taxes, such as liens and garnishments. But, did you know that the IRS recently issued a notice which declares that “seriously delinquent” tax debt could ...
Tax season is already well underway, and that means it is also “tax scam season.” The IRS warns that the latest prevalent scam is a new spin on stealing a taxpayer’s identity and obtaining a false refund. In this new pervasive and i ...
“Cryptocurrency” — the very name sounds mysterious. When it comes to cryptocurrencies such as Bitcoin and Ether and their taxation, that sense of ambiguity remains, even for tax professionals. However, with the rise in use of these ...