One of the tax planning strategies introduced by the Tax Cuts and Jobs Act of 2017 is qualified opportunity funds. By using these funds, you can defer any capital gains from the current year and then make the capital gains on your new investment tax-free. In order to do this, it’s important to understand how…
How the Recent Tax Changes Affect the Kiddie Tax
If your children have any unearned income, then your family may be affected by the so-called “kiddie tax.” How does the Tax Cuts and Jobs Act of 2017 affect you and your children? As you’ll see, tax planning can help you ensure that the impact on your family is minimal. First, it’s important to understand…
Deducting Your Business Vehicles
When the end of the year rolls around, it’s time to start looking at your inventory—including your current vehicles. If any of your cars, vans, trucks, or SUVs could be claimed for a tax deduction, now is the time to find out! Here’s what you need to know about how to do this. As a…
Crystal Royce Honored at 2018 Executive Excellence Awards
It’s always nice to be recognized for your hard work. That’s why Tucson Local Media and Inside Tucson Business have created the Executive Excellence Awards. The team here at the Royce CPA Firm recently attended the 2018 Executive Excellence Awards, and we had a wonderful time! This year’s Executive Excellence Awards took place at the…