BPW Blog

The Tax Cuts and Jobs Act has turned the tax code upside down on alimony, especially in terms of tax deductions. As of January 1, 2019, the tax code on alimony will change for those filing for divorce or separation. The new law eliminates alimony deductions for the payor and does not require the payee… Read more

If you want to teach your child the value of a dollar this summer, take a look at some interesting tips on how they can leverage their summer job salaries. At seventeen years old, one rarely thinks about retirement savings. But if you break down the numbers, they may think twice about how they spend… Read more

With the surge of online shopping dominating the retail space, a recent U.S. Supreme Court 5-4 ruling leveled the playing field between traditional shops and remote sellers, now allowing states to collect sales tax from online retailers. The court’s decision in South Dakota v. Wayfair reversed the physical presence rule previously upheld in 1992 with… Read more

In a recent release by the Internal Revenue Service, corporations operating on a fiscal year that includes Jan. 1, 2018 will pay a blended federal income tax rate due to terms outlined in the Tax Cuts and Jobs Act (the Act). Many corporations choose to use a fiscal year instead of a traditional calendar year… Read more

The Tax Cuts and Jobs Act (the Act) cut tax rates for both individuals and businesses, effective for tax years after December 31, 2017. As part of the package, some deductions have been eliminated and certain perceived loopholes closed. Miscellaneous itemized deductions for individuals have been repealed, which includes unreimbursed employee expenses. If the employer… Read more