It’s my annual Taxes from A to Z series! This time, it’s Tax Cuts and Jobs Act (TCJA) style. If you’re wondering whether you can claim home office expenses or whether to deduct a capital loss under the new law, you won’t want to miss a single letter. Q is for Qualified Business Income. Remember…
It’s been nearly a month since President Trump signed the new tax reform bill into law. Figuring out how the new deduction for pass-through businesses will work is challenging. Sometimes it helps to see it as an illustration. Here you go.
Most provisions of the new tax reform act kicked in beginning January 1, 2018. Taxpayers and tax professionals alike have been mulling what the provisions of the new law might mean – and how to be best get around them. Tops in the minds of many taxpayers: Should I incorporate now to save on taxes?
One of the most significant changes under tax reform is the tax treatment of businesses. Here’s how the new rules will affect pass-through entities and small businesses – with formulas and examples.