Tag Archives | TCJA

man writing benefits in notebook

Tax-Free Fringe Benefits

In today’s tightening job market, to attract and retain the best employees, small businesses need to offer not only competitive pay, but also appealing fringe benefits. Tax-free fringe benefits are especially attractive to employees. Let’s take a quick look at some popular options. Insurance Businesses can provide their employees with various types of insurance on […]

Continue Reading
multi-generational-family-walking-together | dynasty trusts | Dalby, Wendland & Co., P.C. | CPAs | Business Advisors | Trust Estate & Gift Tax Planning | Grand Junction CO | Glenwood Springs CO | Montrose CO

Dynasty Trusts More Valuable Than Ever

The Tax Cuts and Jobs Act (TCJA), signed into law this past December, affects more than just income taxes. It’s brought great changes to estate planning and, in doing so, bolstered the potential value of dynasty trusts. Exemption changes Let’s start with the TCJA. It doesn’t repeal the estate tax, as had been discussed before […]

Continue Reading
Animated man with Money

Cost Segregation Study – Accelerate Depreciation Deductions

Cost Segregation Study – Accelerate Depreciation Deductions Businesses that acquire, construct or substantially improve a building — or did so in previous years — should consider a cost segregation study. These studies combine accounting and engineering techniques to identify building costs that are properly allocable to tangible personal property rather than real property. This may […]

Continue Reading
vacation home on the lake

Vacation Home Rentals and Taxes

Vacation Home Rentals and Taxes Do you own a vacation home? If you both rent it out and use it personally, you might save tax by taking steps to ensure it qualifies as a rental property this year. Vacation home expenses that qualify as rental property expenses aren’t subject to the Tax Cuts and Jobs […]

Continue Reading
poker cards and chips - gambling and taxes

Taxes and Gambling Wins or Losses

If you gamble, be sure you understand the tax consequences. Both wins and losses can affect your income tax bill. And changes under the Tax Cuts and Jobs Act (TCJA) could also have an impact. Wins and taxable income You must report 100% of your gambling winnings as taxable income. The value of complimentary goodies […]

Continue Reading