Tax Reform Archives - Profit Wise, Accounting and Tax

Industries Restaurants and Bar, R&D Tax Credits for Restaurants

Are you a restaurant owner? Are you taking advantage of research and development (R&D) tax credits? In an age where technology is an integral part of how restaurants operate, it is crucial for your establishment to find new ways to stay on the cutting edge and keep up with competition.

Read More →

Accounting, Taxes

August 14, 2023

Tax Changes for Short-term Rental Hosts

The Tax Cuts and Jobs Act has important changes that may impact your vacation rental property. If you use an online rental service like Airbnb, HomeAway, or VRBO to rent out your vacation home you might want to take a look at these tax changes.

Read More →

Taxes

August 14, 2023

Home Ownership —Tax Laws

Navigating our way through the new tax laws concerning home ownership. What’s deductible: closing costs, mortgage interest, property taxes? Let’s take a closer look and break down some of the basics.

Read More →

Tax Credit and Tax Deduction – Know the Difference

Taxes

August 14, 2023

Tax Credit and Tax Deduction

Understanding the difference between tax credits and tax deductions, both credits and deductions help in reducing your tax liabilities, but in different ways.

Read More →

Taxes

August 14, 2023

Tax Reform Explained

Insurance – The individual mandate was a key provision of the Affordable Care Act requiring everyone to have health insurance. Individuals who did not qualify for an exemption and chose not to purchase insurance faced a range of tax penalties, depending on income.

Read More →

Tax Reform

R&D Tax Credits for Restaurants

Tax Changes for Short-term Rental Hosts

Home Ownership —Tax Laws

Tax Credit and Tax Deduction

Tax Reform Explained