Proposed Regs Provided for Code Sec. 163(j) Limit
The IRS has proposed regulations on the limitation on the business
interest expense deduction under Code Sec. 163(j), as amended by
the Tax Cuts and Jobs Act (TCJA) ( P.L. 115-97). The IRS also has
Deductions Denied to Medical Marijuana Dispensary
A nonprofit corporation that operated a medical-marijuana
dispensary legally under California law was not allowed to claim
deductions for business expenses on its federal return. Code Sec.
2019 Standard Mileage Rates Released
The IRS released the optional standard mileage rates for 2019. Most
taxpayers may use these rates to compute deductible costs of
operating vehicles for:...
Proposed Regs Address Foreign Tax Credit Changes
Highly anticipated foreign tax credit regulations have been issued
that provide guidance on the significant changes made to the
foreign tax credit rules by the Tax Cuts and Jobs Act ( P.L.
Guidance on 2019 Withholding Rules
The IRS has provided interim guidance for the 2019 calendar year on
income tax withholding from wages and withholding from retirement
and annuity distributions. In general, certain 2018 withholding
How do I?… Claim the adoption tax credit
Adoptive parents may be eligible for federal tax incentives. The
Tax Code includes an adoption tax credit to help defray the costs
of an adoption. Recent changes to the adoption tax credit
Back-to-school look at education tax benefits
The start of the school year is a good time to consider the variety
of tax benefits available for education. Congress has been generous
in providing education benefits in the form of credits, deductio...
Practicing Service Excellence for Twenty Five Years
Empowering businesses with innovative accounting and strategic solutions.
Bristol Financial Management Group is a certified public accounting and consulting firm that strives to empower and grow entrepreneurial businesses throughout Western Washington. Serving the construction and real estate industries, start up enterprises, medical practices, and high net worth individuals. Our clients benefit by partnering with a small firm with sophisticated experience.
“Bristol Financial Management Group provides a solid foundation of tax services and has been instrumental in providing key tax planning and preparation as well as general ledger work and accounting system support to meet our rapidly changing business requirements. The Bristol Financial Management Group takes time to answer questions and is very good at explaining complex tax issues that allow a business owner to develop sound strategic financial decisions.” ~ Mark Madson, MetroFax
Proud members of the American Institute of CPAs, Washington Society of CPAs, and the Master Builders Association of King and Snohomish Counties.