Proposed Regs Provided for Code Sec. 163(j) Limit
The IRS has proposed regulations on the limitation on the business
interest expense deduction under Code Sec. 163(j), as amended by
the Tax Cuts and Jobs Act (TCJA) ( P.L. 115-97). The IRS also has
Deductions Denied to Medical Marijuana Dispensary
A nonprofit corporation that operated a medical-marijuana
dispensary legally under California law was not allowed to claim
deductions for business expenses on its federal return. Code Sec.
2019 Standard Mileage Rates Released
The IRS released the optional standard mileage rates for 2019. Most
taxpayers may use these rates to compute deductible costs of
operating vehicles for:...
Proposed Regs Address Foreign Tax Credit Changes
Highly anticipated foreign tax credit regulations have been issued
that provide guidance on the significant changes made to the
foreign tax credit rules by the Tax Cuts and Jobs Act ( P.L.
Guidance on 2019 Withholding Rules
The IRS has provided interim guidance for the 2019 calendar year on
income tax withholding from wages and withholding from retirement
and annuity distributions. In general, certain 2018 withholding
Welcome to Purvis, Gray and Company, LLP
In a complex and dynamic industry, Purvis, Gray and Company, LLP has managed to turn challenges into opportunities. Since 1946, we have served clients and built a solid reputation. Through innovative thinking, advanced resources, and cutting-edge service, we have grown into a prominent organization with four locations throughout the state of Florida. Despite our growth, we operate as one cohesive firm.
The firm's philosophy is based on the fundamental concept that our reason for existence is to be of service to our clients. This is accomplished by being sensitive to the needs of our clients, and by providing a high level of quality through the development of educated and trained professionals.