Expenses

IRS spotlights expanded tax benefits for depreciation and expensing

IRS spotlights expanded tax benefits for depreciation and expensing

The Internal Revenue Service is highlighting tax reform changes that impact depreciation and expensing for nearly every business. In some cases, these changes allow small business owners and the self-employed to write off the cost of machinery, equipment and other property more quickly.

House GOP Cuts Taxes For Pass-Through Businesses, Then Worries About A Shift To Self-Employment

 House GOP Cuts Taxes For Pass-Through Businesses, Then Worries About A Shift To Self-Employment

For the second time in a week, House Republicans are pushing policy changes that seem to conflict with key elements of last year’s Tax Cuts and Jobs Act (TCJA). This time, the House says it is worried about the growing numbers of self-employed workers and is giving the IRS 90 days to explain how it will improve their tax compliance.