Corporate

The Tax Cut and Jobs Act (TCJA) meant big changes for us average folk. The emotions that bill evoked with 2018 tax return changes are coming back as more people are considering virtual employment arrangements. The TCJA is now a bigger factor. Working from home is a reality many didn’t see coming. It’ll be a more prevalent option as we move into the future. Know, though, there are financial issues for both the employee and employer. TCJA considerations  The TCJA has changed tax benefits for employer reimbursement of employee expenses. You can no longer use the unreimbursed employee expense option on Form 2106 for Schedule A itemized deductions. What that means for most employers is, if you decide to help cover staff costs outside of the office, it’s a benefit that’s not something you can claim on your tax return. Employers will need to shoulder additional IT expenses and other […]