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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 Nonprofit Advisor

Changes in medical expense and alimony deductions in 2019

Jan 09, 2019

Medical expense deduction tightens and alimony deduction goes away in 2019.

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

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.

Reilly Tax Advisor

Home green home: Save tax by saving energy

Jul 05, 2018

Certain green energy tax credits survived tax reform - temporarily. Learn how you can "go green" and save taxes at the same time.

Reilly Tax Advisor

Get started on 2018 tax planning now

May 04, 2018

For maximum tax savings, now is the time to start planning for 2018. It’s especially critical to get an early start this year because the Tax Cuts and Jobs Act (TCJA) has substantially changed the tax environment.

Reilly Tax Advisor

Casualty losses can provide a 2017 deduction, but rules tighten for 2018

Mar 15, 2018

If you suffered damage to your home during this winter's snowstorms, you will only be able to deduct the resulting "casualty losses" if the region receives a disaster declaration by the President.

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