New Tax Law Changes Divorce Tactics

Financial negotiations in a divorce often involve alimony.  The new tax law changes divorce tactics regarding alimony, but grandfather existing agreements. In addition, old rules will remain in effect for divorce and separation agreements executed during 2018 but next year, the rules will change and the roles will be reversed.

Small Business: No Deduction for Business Entertaining

The TCJA of 2017 lowered corporate tax rates from a graduated schedule that reached 35% to a 21% flat rate.  However, the bad news is many business expenses are no longer tax deductible. That list includes all outlays which might be considered entertainment or recreation.

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Tax Calendar

No “Individual” Deadline This Month – Click above for Corporate Due Dates