Personal Disaster Loss Deduction We seem to be living in an age of natural disasters. Floods, fires, hurricanes, tornados, and other disasters often dominate the news. If a personal disaster strikes you, the tax law may help. When defined as such by the tax code, a personal disaster loss may … [Read more...]
Meals & Entertainment Tax Deductions
Meals & Entertainment Remember the Tax Cuts and Jobs Act (TCJA) largely eliminated the deduction for entertainment expenses paid or incurred after 12/31/17, but left intact certain exceptions. The IRS has now issued final regulations largely follow proposed regulations issued in February 2020 … [Read more...]
Mid-year Tax Planning Strategies for Physicians
Personal Tax Planning Strategies I hope that you and your loved ones are safe as you deal with the current COVID-19 crisis. What an incredibly difficult year this has been! This most recent tax season was unlike any we’ve ever experienced. With the spring deadline postponed until July 15, it may … [Read more...]