If you’re in business for yourself, you know how challenging it can be to run your business and keep on top of your tax situation. Here’s a refresher on the tax rules you need to be aware of if you’re a self-employed sole proprietor or are thinking of becoming one. Income Taxes As you probably …
Nothing in life is certain except death and taxes. — Benjamin Franklin That saying still rings true roughly 300 years after the former statesman coined it. Yet, by formulating a tax-efficient investment and distribution strategy, retirees may keep more of their hard-earned assets for themselves and their heirs. Here are a few suggestions for effective money …
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Simply change the orange cells below to get your answer! Your browser does not support iframes. Your browser does not support iframes. Note: This only compares 2018 vs 2017 changes in Standard Deductions, Exemptions, & Child Tax Credits. For a more detailed review, please call me.
Affectionately being referred to as the Pass-Through Deduction, the new tax law will allow partnerships, LLCs, S corporations and sole proprietorships (in other words, pass-throughs) to deduct up to 20% of their Qualified Business Income under revised provisions of IRC § 199A. How is the Pass-Through Deduction Calculated? The Pass-Through Deduction usually will be whichever …
How It Works: The New 20% Pass-Through Deduction for Businesses Read More »