Tax Warrior Chronicles

New Law Limits a Key Business Sales Tool

Posted on Wed, Jul 10, 2019

By: Dylan Haughey, CPA

 

A recent Wall Street Journal poll showed that some businesses have engaged in fewer client meals and invested in fewer entertainment events over the last year—falling some 70%.  There is a definite shift in how businesses apply resources around client acquisition, and the reason may be simpler than you think.

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The New Tax Law: 2018 Year-End Planning Tips for Businesses

Posted on Wed, Nov 28, 2018

By: Joseph Brunell, CPA

 

The Tax Cuts and Jobs Act (TCJA) was signed into law on December 22, 2017, and became effective on January 1, 2018.   For many businesses, the TCJA provides benefits such as reduced corporate tax rates, removing the corporate alternative minimum tax, and a new pass-through business income deduction.  However, many tax planning ideas go beyond the big-ticket items.  The Tax Warriors® at Drucker & Scaccetti are here to provide some of the top year-end tax planning tips.

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Changes in Treatment of Entertainment Expenses

Posted on Tue, Jan 30, 2018

By: Jeremy Ferman, CPA

 

You just received a great lead for a potential new business partner. You had a few positive conversations over the phone and email, and now you are looking to come to a mutually beneficial agreement to both your company and your potential new partner.  Dinner at a nice restaurant followed by a Sixers game seems like a great way to connect on a human level, talk about your respective businesses, and “seal the deal.”  Before the Tax Cuts and Jobs Act (”The Act”) was passed, business-related entertainment expenses like the picture painted here were considered true costs of furthering business development.  Now, the picture has changed.

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Details on Tax Deductions: Meals and Entertainment

Posted on Thu, Nov 15, 2012

Every now and again our clients ask us for details about tax deductions we are all familiar with, but just want to know a little more about.  We've found that knowing the "rules" can result in higher deductions, if you account for and document your files appropriately.  Higher deductions = Less Tax!

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