Jacobsen & Company, Inc.
An Accountancy Corporation

Tax law can be extremely complex. There's much to know to be sure you're doing all you can to get what you deserve. Here are some personal and business tax tips to get you started. We update this information regularly, so check back soon for new tips.  And remember.....if you heard it on the street it is most likely only fractionally correct at best and may be completely inappropriate for your unique individual tax situation.  Do your due diligence and ask us!

There are a myriad of new tax laws in play now that the majority of provisions in the Tax Cuts and Jobs Act have kicked in.

There are big changes in:

  • Employee business expenses
  • Entertainment and meal deductions
  • Alternative Minimum Tax
  • New Section 199A Qualified Business Income Deduction has arrived (with many complexities)
  • Depreciation
  • Capitalized preproductive cost exclusion for certain small businesses
  • Net Operating Losses
  • Standard Deduction and Personal Exemptions
  • and the list goes on and on.

But lost in many of the discussions.....the fact that California has not conformed to most of these changes.

Planning at this point is a complicated process where you have to way all of the possible tax impacts as a whole and not just as an individual item.  

Please contact our office for a planning appointment.

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