Tax News
TAX NEWS & IMPORTANT DEVELOPMENTS THAT MAY IMPACT YOUR BUSINESS FINANCES
Staying abreast of tax law changes throughout the year ensuring compliance, we have updated information that may impact your finances.
Following is a summary of some of the significant changes to the tax laws for the upcoming year. The Tax Cuts and Jobs Act of 2017 (TCJA) was signed into law on December 22, 2017. Most of the changes introduced by the act went into effect on January 1, 2018, and taxpayers saw the effects of the TCJA reflected in their 2018 tax filings. The Consolidated Appropriations Act, 2020 was signed into law on December 20, 2019 and takes effect January 1, 2020. This act incorporates the Setting Every Community Up for Retirement Enhancement Act of 2019, (SECURE Act) which makes major changes for 401(k) plans and IRAs. The bill includes significant provisions aimed at increasing access to tax-advantaged accounts and preventing older Americans from outliving their assets.
Squyres, Johnson, Squyres would like to wish everyone a Happy and Successful New Year!
Re: Wayfair decision and impacts on your business
The following is a summary of some of the most important tax developments that have occurred that may affect you, your family, your investments, and your livelihood. Remember, these are only highlights, and because everyone’s situation is different, this letter is not a substitute for professional advice regarding your particular situation.
Squyres, Johnson, Squyres would like to wish everyone a Happy and Successful New Year!
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