The Tax Cuts & Jobs Act of 2017 (TCJA) was the most extensive overhaul of the tax code in three decades. Along with creating a single corporate tax rate of 21%, several other changes affect businesses. Changes to Bonus Depreciation Rules Previously, bonus depreciation was only allowed for “original use” property. The new rules enable...Read More

Tax laws often change as quickly as the economy does to temper the extreme swings of the economic pendulum. That’s why when the COVID-19 pandemic turned the entire worldwide economy upside down; the CARES Act included provisions to help businesses that were hit hard recoup some of their losses at tax time. The 5-year NOL...Read More