Insights

The Tax Cuts and Jobs Act (TCJA) of 2017 sharply raised the standard deduction and placed limits on itemized deductions. In particular, no more than $10,000 can be deducted in state and local tax (SALT) payments on a single or joint tax return. As a result, most...

The Tax Cuts and Jobs Act of 2017 increased the federal estate tax exemption to $11.18 million for 2018. That’s per person, so the combined exemption for a married couple can be as much as $22,360,000 worth of assets this year. The same ceilings apply to the federal...

TJT audit partner Kristen Hoyle was interviewed for an article on nonprofit evaluation tools. The article was co-written by TJT audit associate Andrew Slatter as part of his studies with the NC State Master of Accounting program. The article appeared in the online...

Please use the link below to download a PDF file containing reference slides from today’s presentation. Investing in Qualified OZ Funds Authored by Chris Judy, Geri Lail, and Thomas Crawford.

Last week, the U.S. Supreme Court overturned a 1992 Supreme Court ruling (Quill v North Dakota) which held that businesses were not required to collect sales taxes unless they have a substantial connection to the state such as a physical...

The good news is that the TCJA of 2017 lowered C-corporation tax rates from a graduated schedule that reached 35% to a 21% flat rate. The bad news? Many business expenses are no longer tax deductible. That list includes all outlays that might be considered...