Business owners still have time to significantly reduce their tax bills for 2018. Here are seven year-end moves to consider, taking into account changes included in the Tax Cuts and Jobs Act (TCJA). 1. Claim 100% Bonus Depreciation for Asset Additions Thanks to the TCJA, 100% first-year bonus depreciation is available for qualified new and…

The death of a loved one is always difficult but it can be even more challenging if you are the one who must handle all the resulting tax responsibilities. More Miscellaneous Details If an estate must file income tax or estate tax returns, a federal employer identification number (EIN) must be obtained from the IRS….

Let’s say divorcing spouses own part of the stock in a closely held corporation. This may be one of their biggest marital assets, and often one spouse decides to buy out the other party’s shares by transferring some assets in exchange for the stock. Before jumping headfirst into these transfers, it’s important to consider the…