A Limited Liability Company (LLC) is not recognized by the IRS and is not a separate entity. The IRS calls it a “pass-through entity” because its profits and losses are...
If you own a limited liability company (LLC), it may be a good idea to re-visit the current structure with your accountant to ensure optimal performance regarding business taxes. If,...
There has been a lot of movement in the Tax Cuts and Jobs Act lately, however, one of the most significant tax reforms introduced is the tax law related to pass-through businesses....
January 2018Tax Reform Provides New 20% DeductionThe new 2018 Section 199A tax deduction that you can claim on your IRS Form 1040 is a big deal. There are many rules (all new, of course),...
The biggest news about the Tax Cuts & Jobs Act (TCJA) that was recently passed by the U.S. Congress is that it has special deductions for business owners. If you have a partnership,...