House for Sale

Tax Reform Limits Exchanges to Defer Taxes

Article Highlights: Deferring Tax with Like-Kind Exchanges Changes Made by Tax Reform Impact on Trade-ins Whenever you sell business or investment property and have a gain, you generally have to pay tax… Continue On +


Three Important Phrases That Increase Treatment Acceptance

One of the most frustrating aspects of dentistry is to go to great lengths to explain treatment needs only to have patients walk out the door without scheduling. Dentists and teams often… Continue On +

Property Damage

Personal Casualty Losses Axed by the New Tax Law

A casualty loss occurs when there is property damage from a sudden, unanticipated event, not from gradual, progressive damage. Examples of events qualifying as a casualty include: acts of nature like hurricanes,… Continue On +


Employee Business Expenses & Tax Reform

If you are an employee (i.e., a W-2 wage earner) with substantial work-related business expenses, the Act was not kind to you. It suspended (and effectively repealed), for 2018 through 2025, all… Continue On +


Surprise! Extender Bill Passed: Do You Benefit:

Congress passed the Budget Bill last Thursday night, and the president signed it on Friday. To the surprise of many, the bill included a number of extenders that retroactively apply to 2017… Continue On +


Tax Reform Cracks Down on IRA Recharacterizations

If you have been or are anticipating converting your traditional IRA to a Roth IRA, you should be aware of a tax trap that Congress built into the Act. Background: There are… Continue On +

Business Plan

Have Business Income? If So, You Score Big With The New Tax Reform

As part of the Act, Congress changed the tax-rate structure for C-corporations to a flat rate of 21% instead of the former graduated rates that topped out at 35%. Needing a way… Continue On +

Tax Deduction

Medical Deductions & The New Tax Law

Article Highlights: Medical Deductions Retained by the Tax Reform Law Adjusted Gross Income Floor Dropped to 7.5% The Standard Deduction Bunching Medical Deductions Unusual Medical Deductions Medical Dependents Divorced Parents Note: The… Continue On +