Recently, a friend (not a client) asked about getting started with a retirement plan. The awkward part of the question? Though successful in his … [Read more...] about The 50-something Entrepreneur’s Last-minute Retirement Plan
Final Section 199A Regulation Correction: Separate v. Separable
On February 1, 2019, the IRS published a corrected version of their final regulations for Section 199A (available here). The corrections include a … [Read more...] about Final Section 199A Regulation Correction: Separate v. Separable
The Lost Tax Deductions Under New Law
Over the last year, you’ve surely read or heard that many long-standing deductions go away. In this short blog post, I’m going to review these lost … [Read more...] about The Lost Tax Deductions Under New Law
Section 199A Qualified Business Income Adjustments
The new Section 199A deduction gets complicated for dozens of reasons. But one nearly hidden complexity? The qualified business income adjustments, or … [Read more...] about Section 199A Qualified Business Income Adjustments
Salvaging Partnership Section 199A Deductions
You have probably already heard the bad news. Partnership Section 199A deductions get limited or even eliminated in many situations. If you’re a … [Read more...] about Salvaging Partnership Section 199A Deductions
Publication 535 Fleshes Out Additional Section 199A Details
A first version of some of the pages in 2018 IRS Publication 535 appeared a few days ago. (See here.) And conveniently the pages provide additional … [Read more...] about Publication 535 Fleshes Out Additional Section 199A Details
Section 199A Qualified Business Income Deduction Danger Zones
Some bad news I’m afraid. The new Section 199A qualified business income deduction creates a number of danger zones for taxpayers and their tax … [Read more...] about Section 199A Qualified Business Income Deduction Danger Zones
Real Estate Broker Section 199A Deduction
If you’re a real estate agent or broker, you may wonder whether the new Section 199A deduction works for you. And the short answer: Probably you … [Read more...] about Real Estate Broker Section 199A Deduction
The Millionaire Next Door Business Plan
Last week, after reading the newest book in the “Millionaire Next Door” series, I critiqued the critics. More specifically, I pointed out how the … [Read more...] about The Millionaire Next Door Business Plan
Defending “Millionaire Next Door” Theory: What Stanley’s Critics Got Wrong
I recently read The Next Millionaire Next Door, the latest book in the “Millionaire Next Door” series started by Thomas Stanley and William Danko more … [Read more...] about Defending “Millionaire Next Door” Theory: What Stanley’s Critics Got Wrong