Associate Partners Named at Hannis T. Bourgeois, LLP

Associate Partners Named at Hannis T. Bourgeois, LLP

Hannis T. Bourgeois LLP is proud to announce they have named Derek Foret, Amy Huck, Michelle Garbiras and Mukti Patel associate partners of the firm effective January 1, 2020. “These individuals make a positive impact on our clients, our people and our communities. They demonstrate a deep commitment to the development and growth of the … Continued

QBI Deduction Safe Harbor Rule for Rental Real Estate

The Tax Cuts and Jobs Act (TCJA) introduced a new deduction for individuals, estates and trusts that own interests in so-called “pass-through” business entities for 2018 through 2025. The deduction can equal up to 20% of an owner’s share of qualified business income (QBI) from an interest in one or more pass-through business entities. The … Continued

IRS updates rules for using per diem rates

The IRS recently issued guidance on how businesses, self-employed individuals and qualified employees can use the per diem rules to substantiate their business travel expenses for tax purposes. The guidance in Revenue Procedure 2019-48 modifies 2011 guidance to reflect changes made by the Tax Cuts and Jobs Act (TCJA). In a nutshell, the per diem … Continued

IRS updates rules for mileage-related deductions

The IRS has issued new guidance updating the rules for using optional standard mileage rates when calculating “above-the-line” deductions for the costs of operating an automobile for certain purposes. IRS Revenue Procedure 2019-46 also lays out rules for establishing the amount of an employee’s transportation expenses that are reimbursed using the optional standard mileage rates. … Continued

Hiring Seasonal Workers

Nearly 600,000 people will take on holiday seasonal jobs this year, predicts the National Retail Federation (NRF). The usual pressure to bring them in the door, compounded by today’s low unemployment environment, could be a recipe for trouble. So, it’s important to take the time to properly vet seasonal workers, just as you would your … Continued

Business year-end tax planning in a TCJA world

The first tax-filing season under the Tax Cuts and Jobs Act (TCJA) was a time of uncertainty for many businesses as they struggled with the implications of the law’s sweeping changes for their bottom lines. With the next filing season on the horizon, you can incorporate the lessons learned into your year-end tax planning. Several … Continued

Take Time to Review Your Retirement Savings Strategy

While you’re considering health care benefits options during your “open enrollment” period, you should also take stock of your retirement savings strategy. Are you saving enough to cover your retirement needs? The answer depends on many factors, including your expected living expenses, bucket list items (such as travel and hobbies) and potential medical and long-term care … Continued

Best Places to Work in Baton Rouge 2019

Best Places to Work in Baton Rouge 2019 Hannis T. Bourgeois, LLP was recently named as one of the 2019 Best Places to Work in Baton Rouge. The awards program is a project of the Greater Baton Rouge Business Report, the Greater Baton Rouge SHRM, an affiliate of the Society for Human Resource Management and … Continued

IRS provides additional guidance on bonus depreciation under the TCJA

The IRS has released final regulations and another round of proposed regs for the first-year 100% bonus depreciation deduction. The Tax Cuts and Jobs Act (TCJA) expanded the deduction to 100% if the qualified property is placed in service through 2022, with the amount dropping each subsequent year by 20%, until it sunsets in 2027. … Continued

14 Tax-Favored Fringe Benefits: What’s the Right Mix for Your Business?

Job applicants look at more than just wages when evaluating potential employers. They consider the whole compensation package, including fringe benefits and perks. These add-ons enable employers to cast a wider net in the job market, helping them attract and retain top-quality workers. Unfortunately, tax breaks for some fringe benefits were eliminated or suspended by … Continued