MRPR Blog

New Interest Expense Limitations

Posted by Louis DiSarno, CPA on Dec 5, 2018 8:03:00 AM

The Tax Cuts and Jobs Act (TCJA) has something for everyone. For example, corporate tax rates were cut from a top marginal rate of 35% to a flat rate of 21%.  And owners of most pass-through entities, such as S Corporations and partnerships, will realize a tax rate decrease of up to 10% as result of the new Section 199A deduction. However, it's not all good news. 

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Topics: Accounting Hot Topics

New Tax Rules for Meals and Entertainment Expenses

Posted by Alex Bellovary, CPA on Nov 16, 2018 1:18:00 PM

As the 2018 calendar year end approaches, taxpayers should be aware of the new meals and entertainment rules for tax deductibility.  

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Topics: Tax Topics, Accounting Hot Topics

IRS Updates Transportation Industry Per Diem Rates

Posted by Greg Zink on Oct 11, 2018 7:57:00 AM

The IRS has increased the 2018–2019 per diem rates for substantiating employee business expenses under IRC Sec. 274(d) for lodging, meals, and incidental expenses incurred while traveling away from home. 

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Topics: Accounting Hot Topics, Business Planning & Operations

What the Wayfair Case Means for Multi-State Sellers

Posted by Derek Wiggins, CPA, CGMA, MST on Oct 8, 2018 7:59:00 AM

 

If you've haven't heard about the Supreme Court's ruling on South Dakota v. Wayfair, it's time to start paying attention. Wayfair, an online retailer of home furnishings since 2002, had been selling products without charging state sales tax, giving it a consumer benefit edge over its brick and mortar competitors.

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Topics: Accounting Hot Topics