Business

Why Warren Buffett Just Donated $3.4 Billion

 Why Warren Buffett Just Donated $3.4 Billion

Warren Buffett is no stranger to wealth creation. He's also no stranger to wealth donation. Here's why Warren Buffett just donated $3.4 billion and how his philanthropy is shaping the world.

New Tax Law Complicates Business Travel

New Tax Law Complicates Business Travel

The change in tax rates under the Tax Cuts and Jobs Act might have gotten all of the attention, but there's a lot more to tax reform that taxpayers are still trying to sort through. One of those changes involves new limits and restrictions on employee perks and business travel.

New Tax Proposal Would Boost Charitable Mileage Rate To Equal Business Rate

New Tax Proposal Would Boost Charitable Mileage Rate To Equal Business Rate

Under the Senate and House tax reform proposals, the charitable donation deduction claimed on Schedule A, including a deduction for charitable miles driven, was slated to stay in place. Additionally, under the House proposal, the mileage rate for charity would have been indexed for inflation, as it is each year for business and moving mileage. However, while the final version of the tax reform bill did retain the charitable donation deduction, it did not include an adjustment to the charitable mileage rate.

IRS provides certain small employers with relief for the small business health care tax credit for 2017 and later years

IRS provides certain small employers with relief for the small business health care tax credit for 2017 and later years

The Small Business Health Care Tax Credit can benefit certain small employers who provide health coverage to their employees. Generally, small employers must provide employees with a qualified health plan from a Small Business Health Options Program (SHOP) Marketplace to qualify for the credit. Also, small employers may only claim the credit for two consecutive years.