Entries by S.H. Block Tax Services

Understanding the Consequences of the New Tax Cuts and Jobs Act

The Tax Cuts and Jobs Act Eliminated Numerous Job Expense Deductions, Including the Deduction for Union Dues Last year, union dues and other job-related expenses exceeding 2% of adjusted gross income (AGI) could still be deducted as miscellaneous deductions. However, for 2018 (and for the foreseeable future), those deductions have been eliminated. All work-related tools, […]

The Work Opportunity Tax Credit Could Impact Your Bottom Line

Your business might be eligible for the Work Opportunity Tax Credit if you’ve hired people with histories that might have otherwise prevented them from securing gainful employment. Keep reading to learn how the Work Opportunity Tax Credit (WOTC) incentivizes diverse hiring practices while also giving marginalized members of society and struggling individuals a chance at […]