Join now to access this member-only content
Become a Member
Already a member? Log in for full access.
Prior to the Tax Cuts and Jobs Act of 2017, certain business expenses were deductible if, in aggregate, they exceeded 2 percent of the taxpayer's adjusted gross income (AGI), said Richard Hammar, tax attorney, CPA, and senior editor of Church Finance Today.
Some expenses subject to the 2 percent AGI floor included:
The Tax Cuts and Jobs Act, however, "suspends all miscellaneous itemized deductions that are subject ...
Already a member? Log in for full access.