TAX TIP TUESDAY
Entertainment, Bonus Depreciation and Net Operating Losses
By Phylicia Buie, MST 1/15/2019 12:00PM EST
As part of the 2018 Tax Cuts and Jobs Act (TCJA), businesses will be facing new tax rules regarding the deductibility to many of their ordinary expenses. Although the tax reform was passed just over a year ago, it has taken the IRS nearly all of 2018 to interpret and provide guidance on these new rules and changes. Now that this guidance has been debated, tested and refined, we are ready to point out some of those major changes to get you ready for this upcoming filing season.
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