IRS Issues Updates on Post-shutdown Activities

Taxpayers and tax practitioners received guidance from the IRS on what to expect in the areas of audits, collections, tax return processing, and Tax Court operations now that the government shutdown has concluded. The IRS explained on its  website  that IRS employees returned to work on Jan. 28 an...
Read More

Assessing the S Corp

The S corporation business structure offers many advantages, including limited liability for owners and no double taxation (at least at the federal level). But not all businesses are eligible – and, with the new 21% flat income tax rate that now applies to C corporations, S corps may not be qu...
Read More

Do you qualify for the home office deduction?

Under the Tax Cuts and Jobs Act, employees can no longer claim the home office deduction. If, however, you run a business from your home or are otherwise self-employed and use part of your home for business purposes, the home office deduction may still be available to you. Home-related expenses Home...
Read More