Changes to Depreciation Under Tax Reform

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The Tax Cuts and Jobs Act (TCJA), signed into law in the final days of 2017, contains many changes that impact depreciation rules. While these changes are largely positive, there are some potential pitfalls taxpayers should be aware of. First-year bonus depreciation The TCJA increases the bonus depreciation percentage from 50% to 100% for qualified […]

Changes to the Meals and Entertainment Expenses Deduction

The new Tax Cuts and Jobs Act (TCJA) made some significant changes to a popular perk for business owners: the deduction for meals and entertainment expenses. Meals and Entertainment Expenses Deduction Prior to TCJA Prior to the TCJA, the Tax Code generally allowed businesses to deduct 50% of meals and entertainment expenses, with a few […]

Tax Cuts and Jobs Act of 2017 Summary

Please fill out the form below to get access to the Tax Cuts and Jobs Act of 2017 summary. In December 2017, the Tax Cuts and Jobs Act of 2017 (the Act) was signed into law. It was the largest tax reform law in the last thirty years. In the Tax Cuts and Jobs Act […]

Pennsylvania Malt Beverage Tax Credit

The Pennsylvania Department of Revenue recently announced that it is accepting applications for the Pennsylvania Malt Beverage Tax Credit program, which was reinstated under Act 84 of 2016. The program is intended to offset the cost of investment for manufacturing expenditures of small brewers in the malt or brewed beverage industry. A taxpayer may apply […]