The party’s over Deduction for entertainment expenses no longer allowed Starting in 2018, deductions for activities that are generally considered to be entertainment, amusement or recreation expenses, or with respect to a facility used in connection with such activities, are disallowed. Forget front row concert tickets or box seats at the MLB game on another […]

Tax credit for children and qualifying dependentsHow much are you eligible for? Beginning in 2018, the child tax credit increases to $2,000 per qualifying dependent child age 16 or younger at the end of the calendar year. This is a huge benefit because a credit reduces your tax bill dollar-for-dollar! Also, up to $1,400 of […]

Many have been waiting to see the impact of the new Tax Cut and Jobs Act (TCJA), and the gauge many are using is their tax refund. This has left many shocked by a significantly smaller refund or (gulp) taxes owed this year. This has led to a level of confusion that can hopefully be cleared […]

Welcome to the story behind ABC Accounting and Business Consulting: A modern-day GPS for the small business owner! … Last summer I took my youngest daughter and a few of her friends to an outdoor park. It had been a while since our last visit, so I plugged our intended destination into my GPS, and […]