New Rules for Business Travel Deductions

Business travel is still tax-deductible, under the Tax Cuts and Jobs Act of 2017 (TCJA), but there is a major difference now. Relatively few individuals will be able to claim such deductions; for the most part, deductions can be taken only at the company level. How is...

Home Builder Property Tax Exclusion

North Carolina Governor Cooper recently signed into law a bill which should help homebuilders with some of their property tax burden. House Bill 492, known as the Simplify Builder Inventory Exclusion, will eliminate the need for a builder to file annually in order to...

Making stock sales less taxing

Patient investors generally have prospered over the long term. Nevertheless, there are many reasons for selling stocks. Knowing the basics can help improve your tax position. Selling shares held in a taxable account will trigger taxable capital gains or losses, unless...

Handling qualified charitable distributions

After the initial rush of filing for 2018 returns, many people will learn that they’re no longer itemizing deductions. The TCJA placed limits on some deductions and increased the standard deduction significantly, so most taxpayers are taking the standard deduction,...

IRS says business meal deductions still apply

The Tax Cuts and Jobs Act (TCJA) of 2017 generally disallowed all deductions for business entertainment, amusement, and recreation. However, the TCJA did not specifically turn thumbs up or down on the deductibility of business meal expenses. Example: Jim Morgan, who...

TJT Electronic Invoicing and Payment Options

TJT now offers electronic invoicing and payment options.  You can choose to receive your bill from TJT via email and then make the payment electronically as well if that is your preference.  To opt into electronic billing, please email Joette Crews at...