Changes for Employers

Changes-Employers

Big changes for employers under tax reform. We’ll delve into three of them in this letter.

Let’s begin with meals and entertainment. Entertainment expenses are not deductible. Before 2018, firms could generally take a tax-off for half of their business-related entertainment costs. Tax reform axed this break starting with 2018 returns, so no more writing off show tickets, golf course fees, sporting events and the like, even if taking clients.

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TAX DEADLINE

Most people think of April 15 as tax day — the day on which they have to either file their tax returns for the year or request an extension. But as you get ready to prepare your 2017 tax return, you might get a pleasant surprise: You’ll have another couple of days beyond April 15 to get everything done.
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