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Reilly Tax Advisor

Depreciation-related breaks on business real estate: What you need to know for your 2018 return

Feb 01, 2019

Commercial buildings and improvements generally are depreciated over 39 years, but tax breaks that allow deductions to be taken more quickly are available for certain real estate investments.

Reilly Tax Advisor

Rental property owners may benefit from Qualified Business Income Deduction under new IRS guidance

Jan 28, 2019

Owners of rental real estate – either commercial or residential – may benefit from one of the new tax law’s most significant deductions by observing record-keeping rules detailed in recent guidance from the IRS.

Reilly Tax Advisor

IRS waives under-withholding penalties for some taxpayers

Jan 23, 2019

The IRS will waive the penalty for some taxpayers whose 2018 withholding and estimated tax payments fell short.

Reilly Tax Advisor

Standard mileage deduction rates for 2019

Dec 18, 2018

The Tax Cuts and Jobs Act (TCJA) has changed the landscape of tax deductions for miles driven for business in your personal car, van or truck.

Reilly Tax Advisor

Does prepaying property taxes make sense anymore?

Nov 27, 2018

Prepaying property taxes related to the current year but due the following year has long been one of the most popular and effective year-end tax-planning strategies. But does it still make sense in 2018?

Reilly Tax Advisor

Mutual funds: Handle with care at year end

Nov 13, 2018

As we approach the end of 2018, it’s a good idea to review the mutual fund holdings in your taxable accounts and take steps to avoid potential tax traps.

Reilly Tax Advisor

TCJA complicates tax planning for investments

Nov 12, 2018

Investors may require different year-end tax strategies under the Tax Cuts and Jobs Act.

Reilly Tax Advisor

Tax-free fringe benefits help small businesses and their employees

Oct 17, 2018

In today’s tightening job market, small businesses need to offer not only competitive pay, but also appealing fringe benefits. Benefits that are tax-free are especially attractive to employees.

Reilly Tax Advisor

Business meals still deductible at 50% under IRS guidance

Oct 05, 2018

Good news for those who incur expenses for business meals. At least for now, such expenses still may be deducted on 2018 tax returns at the 50% rate.

Reilly Tax Advisor

Qualified Charitable Distribution could be more valuable to certain taxpayers under TCJA

Aug 14, 2018

The Qualified Charitable Distribution, which survived the Tax Cuts and Jobs Act of 2017, may be even more valuable now to certain taxpayers.

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