IRS Notice 2018-64 states that monies paid to statutory employees are not wages for Section 199A in spite of the fact that those monies go on the W-2 because they are subject to FICA.
You compete for employee talent in a variety of ways, including perhaps by implementing a medical and family leave policy.
But some of the other tax reform changes may make the C corporation a more attractive choice of entity than before (yes, really!).
In Notice 2018-76, the IRS states that client and prospect business meals continue as tax deductions under the Tax Cuts and Jobs Act.
Social Security and Supplemental Security Income (SSI) benefits for more than 67 million Americans will increase 2.8 percent in 2019, the Social Security Administration announced today. The 2.8 percent cost-of-living adjustment (COLA) will begin...
If you hold significant assets in one or more individual retirement accounts, you might want to consider setting up a special type of revocable living trust that's specifically designed to act as the beneficiary of your IRAs after you die.
I offer the following story as a way of clarifying the new 2018 rules on mortgage interest. Jim bought a personal boat in May 2018. It qualifies as a second home. He has a $600,000 personal mortgage on his 2010 home and a $400,000 loan on his...
Only about 9 percent of households would benefit from repeal of the Tax Cuts and Jobs Act’s (TCJA) $10,000 cap on the state and local property tax (SALT) deduction, and more than 96%of the tax cut would go to the highest-income 20% of households, according to a new analysis by the Tax Policy Center.
In case you may have missed it, the New York Times detailed recently how President Donald Trump received at least $413 million in today’s dollars from his father’s real estate empire.
Much of the criticism of annuities is deserved, and I’ve joined in it. There are annuities that are complicated, charge high fees and have a lot of restrictions.
In Your 40s With No Retirement Savings? Make These Your Next Moves - By: Maurie Backman For The Motley Fool
It's no secret that Americans, on the whole, are behind on retirement savings.
Drive Time Increases Odds of Deducting Rental Property Losses Your rental properties provide tax shelter when you can deduct your losses against your other income. One step to deducting the losses is to pass the tax code’s 750-hour test....
Though retirement can be a fulfilling time in people's lives, it can also be a stressful one.
You're pumped for your new gig, but aren't you forgetting something?
A Roth IRA can benefit workers of every age, including children, but kids can't open and control their own Roth IRA until they reach the age of maturity, which is 18 in most states.
You probably think you can’t take money out of your IRAs before age 59 1/2 unless you meet a narrow exception to the unpleasant 10 percent penalty on early distributions.
But that’s not true. We have a variety of planning opportunities here.
But the changes to the net operating loss (NOL) deduction rules are not in the good-changes category. They are designed to hurt you and put money in the IRS’s pocket.
Your rental properties provide tax shelter when you can deduct your losses against your other income
One step to deducting the losses is to pass the tax code’s 750-hour test. And one step to finding the hours you need to pass the time test may be your drive times.
Although we typically associate the term “estate” with the ultra-wealthy, estate planning is not just for the rich.
I'm in my mid 60s and have about $1.2 million I would like to invest for the maximum income possible for the rest of my life.