Tag Archives: Taxpayers

How Section 163(j) Helps Small Businesses

With the passing of the Tax Cuts and Jobs Act of 2017 came Section 163(j). Section 163(j) calls for the limitation of deductions for business interest expense. All taxpayers who have business interest expenses are subject to Section 163(j) except those that meet the requirements for the gross receipts test. In order to meet theContinue reading “How Section 163(j) Helps Small Businesses”

What to Consider When Relocating for Tax Purposes

Due to the disparity between tax rates of different states, many taxpayers from high-tax states, such as New York, are moving to states with lower tax rates, such as Florida. Moving to another state for tax purposes sounds easy, but it is not that simple. These high-tax states view fleeing taxpayers as lost revenue andContinue reading “What to Consider When Relocating for Tax Purposes”