by GPwebsiteV3! | Jul 26, 2019 | GP Articles, Tax Reform
One of the many changes in the new tax law that may impact you is the mortgage interest deduction. This is still a favorite deduction despite the significant increase in the standard deduction. It is important to first understand how the IRS defines “qualified...
by GPwebsiteV3! | Jul 22, 2019 | MS State
The Mississippi Sales Tax Holiday of 2019 will take place between Friday, July 26th and Saturday, July 27th and will include school supplies in addition to clothing and footwear. For further guidelines, please visit the link below:...
by GPwebsiteV3! | Jul 19, 2019 | Business, GP Articles
Shareholder basis reflects a shareholder’s post-tax economic investment in a corporation. Calculating correctly and in the proper order can be a challenge with a small business corporation (an S corporation), since items of income and loss pass through to the...
by GPwebsiteV3! | Jul 15, 2019 | GP Articles, Tax Reform
It’s no secret that the Tax Cuts and Jobs Act (TCJA) ushered in sweeping changes to tax law that affected all of us. Today we’ll be talking about one such effect on owners of real estate: the 1031 exchange. Also known as like-kind exchanges, 1031 exchanges have been...