Blog Articles

November 21, 2023

100% Bonus Depreciation Regulations Finalized

100% Bonus Depreciation Regulations Finalized The IRS has adopted previously issued proposed regulations dealing with the 100 percent bonus depreciation deduction. In addition, some clarifying changes […]
November 15, 2023

Tax Planning: Qualified Opportunity Zones

Tax Planning: Qualified Opportunity Zones The Tax Cuts and Jobs Act includes changes for businesses and individuals. One of these is the creation of the opportunity […]
November 14, 2023

2023 Tax Business Luncheon

Below you will find the contents of the presentations from the 2023 AFairchild Business Luncheon on November 14th. Please let us know if you have any […]
November 7, 2023

Tax Planning: Excess Business Losses of Noncorporate Taxpayers

2023 Tax Planning: Excess Business Losses of Noncorporate Taxpayers Under the CARES Act, the limitation on excess business losses for shareholders and partners of pass-through businesses […]
November 1, 2023

Tax Planning: Basis of Property

Tax Planning: Basis of Property Acquired Under Code Secs 1031 or 1033 In certain types of transactions there are opportunities for taxpayers to defer gain on […]
October 25, 2023

Tax Planning: Meals & Entertainment

Many businesses consider the occasional wining and dining of customers and clients just to stay in touch with them to be a necessary cost of doing […]
October 17, 2023

Tax Planning: Net Operating Losses

Taxpayers have an opportunity to utilize net operating losses (NOLs) generated on their personal and corporate tax returns generated in tax year 2023 by carrying forward […]
October 11, 2023

Tax Planning: Medical & Dental Expenses

Medical expenses can trim taxes. Keeping good records and knowing what to deduct make all the difference. Taxpayers can only claim medical expenses that they paid […]
October 3, 2023

Distributions During Working Retirement

Consolidated Appropriations Act, 2021 Under the Consolidated Appropriations Act, 2021, a pension plan will not fail to meet qualification requirements solely because it provides for a […]