IRS wheels out additional guidance on company cars

The IRS has updated the inflation-adjusted “luxury automobile” limits on certain deductions taxpayers can take for passenger automobiles — including light trucks and vans — used in their businesses. Revenue Procedure 2019-26 includes different limits for purchased automobiles that are […]

Read More

Federal Tax News

The Tax Cuts and Jobs Act (TCJA) financially hurts some children receiving military survivor benefits. The Congressional Research Service (CRS) recently issued a new report suggesting ways to fix the issue. The TCJA changed the calculation of the “kiddie tax” […]

Read More

5 Financial Tips for New College Graduates

  Congratulations to the graduating class of 2019! As soon as a new graduate switches his or her tassel to the other side of the cap, it’s time to plan for the future — and there’s more to do than […]

Read More

House Approves Bipartisan IRS Reform Bill

The House on April 9 approved by voice vote a bipartisan, bicameral IRS reform bill. The IRS bill, which now heads to the Senate, would redesign the IRS for the first time in over 20 years.   IRS Reform The […]

Read More

Federal Tax News

IRS Clarifies Treatment of Refunds with New SALT Limits. The IRS has provided four examples of the interaction of the new limit on the deduction on state and local taxes (SALT) under Code Sec. 164(b)(6) with the tax benefit rule for […]

Read More
BKR International logo.
Ohio Oil & Gas Association logo.
NACVA logo.
The Ohio Manufacturers' Association logo.
AICPA logo.
Team neo Cleveland+ logo.