2021 Changes to the Deductibility of Meals and Entertainment Expenses
In the past year, restaurants have struggled across the United States due to shutdowns in 2020 followed by capacity restrictions. In an effort to inject capital into businesses that were more …
2020 Payroll Tax Deferral – What Employers Need to Know
In August, the President issued an executive order for a payroll tax deferral through the end of 2020. This order allows businesses to elect to defer employee payments into Social more …
Changes to the Deductibility of Meals and Entertainment Expenses
The Tax Cuts and Jobs Act includes significant changes to the treatment and deductibility of client and employee related meals and entertainment expenses. Below we expand on several situations regarding more …
Changes to Itemized Deductions – What You Need to Know
As the 2018 tax filing season begins, one of the major changes that will be seen by taxpayers is the increase to the standard deduction as well as the treatment more …
Maximizing the 20% QBI Deduction for Service-Based Businesses
At the end of 2017, Congress passed the 2017 Tax Cuts and Jobs Act (“2017 TCJA”) that went into effect for 2018. For service-based business owners, one of the biggest more …
Can you still deduct interest from your Home Equity Line of Credit (“HELOC”)?
You may have heard that your Home Equity Line of Credit (“HELOC”) interest is no longer tax deductible on your individual income tax return. Although the tax law specifically states more …
What is the Qualified Business Income (“QBI”) Deduction? – How does it work and who can take advantage of it?
With the tax cuts in full effect, the biggest, and certainly the most complicated, addition to the tax law is the 20% Qualified Business Income (“QBI”) deduction. This deduction was more …
Landlord Tenant Law Changes – Reminder
A reminder to all landlords about a significant change in the Landlord-Tenant Law. Don’t be caught unaware. Missouri revised the law concerning tenant security deposits. Made effective August 28, 2016, more …
Accounting Mistakes Can Cost You—Here Are 5 of the Biggest Blunders
More common than you might think, accounting mistakes have the power to cause instability, hinder growth and potentially get you into trouble. Because these errors can be so costly, we more …
Healthcare Costs Continue to Rise–How A Health Savings Account (HSA) Can Work to Everyone’s Advantage
Since the 2016 presidential election, many topics continue to be examined and debated. No matter what side of the fence you are on, almost everyone agrees that healthcare costs are more …
Identity Theft Update – Alarming Tax Scams on the Rise in St. Louis Area
Identity theft not only places a burden on its victims but also poses a challenge to businesses, organizations and government agencies, including the IRS. Tax-related identity theft occurs when someone more …
Benefit of Purchasing a Missouri Redevelopment Tax Credit
The purchase of a Missouri Redevelopment Tax Credit (“MRTCs”) can provide you with a respectable return on your investment, if you fully understand the applicability of the MRTC to your more …
Bring Your Vision Into Focus
As the New Year begins, it is a good time to establish goals and plans for your business in 2015. In order to do that, you should consider revisiting and more …