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Wrinkles in the new Tax Law– The Tax Cuts and Jobs Act of 2017 have temporarily changed tax deduction rules to limit home equity borrowing to (a) home acquisition and improvement purposes and (b) the difference between $750,000 and the 1st lien mortgage outstanding. Therefore, it is import...
Start-up tax credit.Small businesses with under 100 employees can claim a tax credit of up to $5,000 per year for three years to help cover the administrative costs of starting a new plan. Previously, small businesses with less than 100 employees were eligible for a three-year, start-up ...