The nearly 6,000-page Bill passed with overwhelming bipartisan support and was signed by the President.
Maryland Pass Through Entity SALT Workaround
The Internal Revenue Service released IRS Notice 2020-75 on November 9, 2020, clarifying its position on State and Local Tax (SALT) workaround laws passed by several states. In Notice 2020-75, …
Time Running Out on Special Charitable Giving Provisions
The holiday season always brings out the charitable inclinations in people, and this year will be no different. We may even see an increase in charitable giving due to provisions …
Can You Deduct Entertainment & Business Meal Expenses? (Updated 2020)
(This article has been updated to reflect clarifications in the deductibility of business expenses for employee social gatherings) Wining and dining clients, prospects and business contacts has been, and continues …
Deferred Payroll Tax: What You Should Know
With no movement on negotiations for a second COVID-19 relief bill from lawmakers on Capitol Hill, President Trump signed an executive order and several memorandums addressing the expiration of the …
Tax Strategies That Are Keeping Charitable Giving Alive
As expected, charitable giving by individuals began to wane after the Tax Cuts and Jobs Act (TCJA) increased the standard deduction for millions of taxpayers. While the strong economic growth …
