Category: Tax Cuts and Jobs Act (TCJA)


Choosing the right accounting method for tax purposes

The Tax Cuts and Jobs Act (TCJA) liberalized the eligibility rules for using the cash method of accounting, making this method — which is simpler than the accrual method — available to more businesses. Now the IRS has provided procedures … Read More »

August 14th

Tax Cuts and Jobs Act (TCJA), Tax Planning. Comments Off on Choosing the right accounting method for tax purposes


The TCJA prohibits undoing 2018 Roth IRA conversions, but 2017 conversions are still eligible

Converting a traditional IRA to a Roth IRA can provide tax-free growth and tax-free withdrawals in retirement. But what if you convert your traditional IRA — subject to income taxes on all earnings and deductible contributions — and then discover … Read More »

August 7th

Tax Cuts and Jobs Act (TCJA), Tax Planning. Comments Off on The TCJA prohibits undoing 2018 Roth IRA conversions, but 2017 conversions are still eligible


The TCJA changes some rules for deducting pass-through business losses

It’s not uncommon for businesses to sometimes generate tax losses. But the losses that can be deducted are limited by tax law in some situations. The Tax Cuts and Jobs Act (TCJA) further restricts the amount of losses that sole … Read More »


Have you taken state estate taxes into account?

The Tax Cuts and Jobs Act has doubled the federal gift and estate tax exemption, with inflation-adjustments projected to raise it to $11.18 million for 2018. This means federal estate taxes are a concern for fewer families, at least in the … Read More »


Personal exemptions and standard deductions and tax credits, oh my!

Under the Tax Cuts and Jobs Act (TCJA), individual income tax rates generally go down for 2018 through 2025. But that doesn’t necessarily mean your income tax liability will go down. The TCJA also makes a lot of changes to … Read More »

HOBERMAN & LESSER, LLP