December 4, 2017
On November 16, the House passed a new tax reform bill that moves the GOP closer to bringing the legislation to fruition. Now the Senate is preparing its own tax reform package. If passed, it must be reconciled with the House before any final legislation goes to the White House. Here is a snapshot of some of the key changes proposed in the tax reform bill:
These are just some of the latest changes outlined in the draft tax reform bill. We will continue to provide updates on this legislation as it progresses. If you have questions, please contact our firm.
If you’re one of the taxpayers who will be receiving a refund, it is likely that you now have a sum of money that you had not accounted for. The IRS has reported that the average refund is $3,120. For a lot of people that is a decent sum of money. There are a lot of things you can do with $3,000, some smart and some not so smart. Well, here are some ideas I have for how to put that money to use in a beneficial manner.
Have you filed your 2017 taxes yet? If not, you still have the opportunity to make sure that you lower your tax obligation as much as possible. With new tax laws in effect for 2018 and beyond, the following deductions will disappear after this tax season—check them out to see which ones may help you lower your taxable income...
Cash flow is the lifeblood of any business. And it’s especially vital for general contracting businesses that require financial flexibility for purchasing materials, meeting payroll and paying subcontractors. Also consider that GCs must have cash liquidity in order to receive financing from creditors.