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Updates for our Clients – Covid-19

To our Valued Clients and Friends, In response to the national emergency and the recent events by our local agencies regarding the COVID-19 virus, including the Yakima County Stay at Home order, Alegria & Company has taken steps to protect and support our clients and our staff.  We want to ensure you that we are...

COVID-19 Information

Dear Clients and Friends, Due to the recent events by both state and federal agencies regarding the COVID-19 virus, Alegria & Company has taken steps to support our clients and our staff.  We want to ensure you that we are taking recommended necessary precautions to keep our clients and staff safe while also continuing to...

The IRS provides guidance on meal and entertainment deductions

The IRS has released proposed regulations addressing the deductibility of meal and entertainment expenses in tax years beginning after December 31, 2017. Among other things, the proposed regs clear up lingering confusion regarding whether meals are considered entertainment and, therefore, generally nondeductible. TCJA rule changes Prior to the Tax Cuts and Jobs Act (TCJA), Section...

Determining whether you need to file a gift tax return can be tricky

For 2020, the lifetime gift and estate tax exemption has reached a whopping $11.58 million ($23.16 million for married couples). As a result, few people will be subject to federal gift taxes. If your wealth is well within the exemption amount, does that mean there’s no need to file gift tax returns? Not necessarily. There...

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