Our Blog

Andrew Luce, CPA •

The IRS recently updated one of their publications which provides details for tax rules associated with employer provided fringe benefits (Publication 15-B). Some of you may ask, what are fringe benefits and why should I take the time to understand them?  

Alyssa McBride, CPA •

The Tax Cuts and Jobs Act of 2017 created a lot of changes for taxpayers. One area that you should not overlook is the change to meals and entertainment. Entertainment is now nondeductible. Also no longer fully deductible are workplace meals, these now fall into the 50% deductible category. What is most concerning is that there is a current lack of information on business meals, these could be 50% deductible or they could fall into the nondeductible category. This could be a significant change for many taxpayers. We will keep you updated as more information becomes available. 

While we wait on the resolution, we have one recommendation you can immediately put in place: