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Update on Deducting Business and Entertainment Expenses

The federal income tax treatment of business-related meal and entertainment expenses has been a moving target over the last few years. If you’re confused about what rules currently apply, you’re not alone. Here’s a refresher on what’s currently deductible — and what’s not. TCJA Impact Before the Tax Cuts and Jobs Act (TCJA) went into

How to Salvage a Casualty Loss Deduction

So far, 2021 has been a rough year for casualty losses. Hurricane Ida wreaked havoc in the south and east. Wildfires have destroyed millions of acres in the west. Catastrophes in other parts of the country this year – including tornadoes, earthquakes, and floods – have caused significant damage to personal property. But there may be