By Kenneth H. Bridges, CPA, PFS December 2022
Congress has, in recent years, become increasingly creative in how it names legislation; particularly tax legislation. And so, the tax legislation enacted in August 2022 was named The Inflation Reduction Act …
By Kenneth H. Bridges, CPA, PFS December 2021
President Biden campaigned on a promise to increase taxes on the wealthy and corporations, and so, with the White House and Congress both under Democratic control, a significant increase in taxes has …
By Kenneth H. Bridges, CPA, PFS April 2021
On March 11, 2021, President Biden signed into law the American Rescue Plan Act of 2021 (ARPA). Below is a summary of the highlights.
3rd round of rebate checks to individuals…
By Kenneth H. Bridges, CPA, PFS April 2021
On December 27, 2020, the Consolidated Appropriations Act, 2021 (CAA 2021) was signed into law. Below is a summary of the highlights.
PPP-funded expenses are tax deductible – For most small to …
By Kenneth H. Bridges, CPA, PFS June 2020
In mid-March, as efforts began to “flatten the curve” of the spread of COVID-19, businesses began to furlough employees by the millions, and the fear was that many small businesses would not …
By Kenneth H. Bridges, CPA, PFS June 2020
In March, as much of the U.S. (and global) economy began to shut down, Congress went to work passing massive stimulus legislation to try keep the economy going. Federal legislation enacted from …
By Kenneth H. Bridges, CPA, PFS March 2020
In late 2019, the Setting Every Community Up for Retirement Enhancement (SECURE) Act was enacted. Below is a summary of the highlights.
Elimination of the “Stretch IRA” – For persons who passed …
By Kenneth H. Bridges, CPA, PFS December 2017
The Tax Cuts and Jobs Act (TCJA)1 was passed by the House and Senate on December 20 and signed into law by the President on December 22.
The actual text of …
By Kenneth H. Bridges, CPA, PFS December 2015
As was the case last year, Congress again this year waited until December to let us know what the tax law would be for the year about to end. On December 18, …
By Kenneth H. Bridges, CPA, PFS March 2010
Bonus first-year depreciation – For most new …