Tax Planning; Tax Minimization

Improving cash flow with loss carrybacks

This article discusses two planning areas related to NOL carrybacks: The decision whether to carry a loss forward or back and planning strategies to increase the balance of the NOL carryback.

Cost recovery changes in the TCJA

This article discusses changes to the law and IRS guidance issued in Rev. Proc. 2019-8 on how to elect to expense qualified real property and change the depreciation of certain assets to ADS.

Deducting deferred bonuses

Numerous rules and restrictions govern the timing of deductibility of bonuses accrued in one year and paid in another.

Tax Insider Articles

DEDUCTIONS

Business meal deductions after the TCJA

This article discusses the history of the deduction of business meal expenses and the new rules under the TCJA and the regulations and provides a framework for documenting and substantiating the deduction.

TAX RELIEF

Quirks spurred by COVID-19 tax relief

This article discusses some procedural and administrative quirks that have emerged with the new tax legislative, regulatory, and procedural guidance related to COVID-19.