What’s In the Reauthorization of Section 702 of the FISA?
What Trump calls an improvement is really just Section 702 of the FISA being reauthorized with a few tweaks to transparency and accountability. February 5, 2018 By: Bobby Casey, Managing Director GWP Section 702 of the FISA was signed into law by Donald Trump on January 19, 2018. There’s really no point in talking about […]
It’s 2018: Have Your Personal Tax Strategies Evolved?
Many long-standing deductions and exemptions will be no more, which might require all new tax strategies. January 26, 2018 By: Diane Kennedy, CPA USTaxAid.com I normally write about tax strategies for business owners and real estate investors. There’s been plenty to write about with the 2018 Tax Cuts and Job Act. Today and tomorrow, though, […]
Is Your E-Commerce Business Ready for the Sales Tax Changes?
E-commerce businesses faces sales tax changes due to Marketplace Fairness Act. January 23, 2018 By: Diane Kennedy, CPA USTaxAid.com In 2018, the State of Washington’s new marketplace rules take effect. Marketplace facilitators (like Amazon) will be required to collect sales tax on behalf of marketplace sellers that have not otherwise established a physical presence of […]
Do You Need a Strategy for Casualty and Theft Losses in 2017?
The scope of eligible casualty and theft loss tax deductions will narrow dramatically starting in 2018. January 19, 2018 By: Dianne Kennedy, CPA USTaxAid.com In 2018, we lose the ability to write off most casualty and theft losses. The only casualty losses that will remain a write-off are ones that occur in a federally designated disaster zone. […]
Big Changes for Bonus Depreciation
Bonus depreciation is changing in a big way, so it might be time to figure out how you take advantage of the new laws. January 17, 2018 By: Diane Kennedy, CPA USTaxAid.com The 2018 Tax Cuts and Job Act has three important differences regarding bonus depreciation: 1. The bonus depreciation will temporarily be 100%! 2. In order […]
C Corporation Changes in the New Tax Plan
Major changes are afoot in the new tax plan for C Corporations, but it’s important to think ahead before making any hasty decisions. January 12, 2018 By: Diane Kennedy, CPA USTaxAid.com By now, you’ve probably heard that the 2018 Tax Cuts and Jobs Act is rolling back the maximum C corporation rate to 21%. That, […]
Careful What You Wish For: Government “Legitimizes” Cryptocurrencies
With all the clamoring for Bitcoin and other cryptocurrencies to be recognized as legitimate, has anyone considered what it means to mainstream them? January 8, 2018 By: Bobby Casey, GWP Managing Director Advocates of Bitcoin and other cryptocurrencies have been quite vocal over the years about recognizing cryptocurrencies as a legitimate currency, as opposed to […]
Going Into 2018
The myriad changes that unfolded in 2017 will make for an interesting 2018 from the US tax legislation, to the global economy, and to cryptocurrencies. January 1, 2018 By: Bobby Casey, Managing Director GWP There are numerous interesting issues to watch in 2018 including the effects of the recent tax bill, cryptocurrencies, and even the […]
Big Changes for Meals & Entertainment Expenses
While business friendly on many fronts, the new tax plan removes a few benefits such as meals and entertainment write-offs. December 29, 2017 By: Diane Kennedy, CPA USTaxAid.com It’s over 1000 pages long and there are a lot of little nuances to the new tax plan. Over the next few weeks, I’ll be highlighting changes […]
Bitcoin and the IRS
IRS makes headway in pursuing Bitcoin owners including full access to owner information for transactions from 2012-2015 over $20,000. December 22, 2017 By: Diane Kennedy, CPA USTaxAid.com The IRS recently won a landmark case against Coinbase, giving them access to all owner information for cryptocurrency transactions totaling over $20,000 from 2012-2015. Right now, there is […]
