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Tag: deduction

Jul 13, 2022

Tax Treatment of Research and Experimental Expenses During 2022

Written by Steven N. Smith, J.D., CPA The 2017 Tax Cuts and Jobs Act (TCJA) is the gift that keeps on giving, continuing to create…

Mar 09, 2022

New Form 7203

By Cooper Melvin, JD, CPA The IRS recently released the final version of the new Form 7203 to better document S corporation stock basis in…

Feb 23, 2022

Employee Retention Credit – Timing of Qualified Wages Deduction Disallowance

By Steven N. Smith, CPA, JD Initially, the employee retention credit (ERC), enacted by the CARES Act, was not available to paycheck protection program (PPP)…

Oct 02, 2018

Qualified Business Income Deduction

The IRS released long-awaited guidance on new Code Sec 199A, commonly known as the “pass-through deduction” or the “qualified business income deduction.” Taxpayers can rely on these…

Mar 27, 2018

BMSS Video Series Part 7: Accounting Method Changes and Interest Expense Deduction Changes

With all the changes made in the recently enacted tax reform legislation, we are committed to keeping you informed while providing you peace of mind….

Mar 06, 2018

BMSS Video Series Part 4: 20% Deduction for Pass-Through Entity QBI

With all the changes made in the recently enacted tax reform legislation, we are committed to keeping you informed while providing you peace of mind….