2018 Last-Minute Section 199A Strategies Starting now, this year (2018), you have to consider your Section 199A deduction in your year-end tax planning. If you don’t, you could end up with a big fat $0 for your deduction amount. If your...
Data thieves don’t take a break during the holidays
As a small-business owner, you probably incur work-related education expenses from time to time.
Starting now, this year (2018), you have to consider your Section 199A deduction in your year-end tax planning.
The beauty of tax planning your year-end stock portfolio is that it might cost you pennies in commissions but allow you to pocket real money.
When you get busy with your business, it’s easy to forget about your retirement accounts and medical coverages and plans.
Your year-end tax planning doesn’t have to be hard.
Two questions: 1. Do you need a replacement business car, SUV, van, or pickup truck? 2. Do you need tax deductions this year?
Ridiculous or not, these tax breaks can lower your tax bill.
Source: New York Times By: Elizabeth Yuko
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.