A few weeks ago, an old vendor we still buy a few items from called. And for an odd reason. They wanted help with a small business postmortem of their … [Read more...] about Small Business Postmortem: Funeral for a Friend
S Corporation Shareholder Salaries and Section 199A Deduction
Starting in 2018, S corporations face a new complexity when setting shareholder-employee salaries. While setting a low salary saves payroll taxes, … [Read more...] about S Corporation Shareholder Salaries and Section 199A Deduction
Section 199A Deduction and Principal Asset Disqualification
Do you own a pass-through entity? You may already know the new tax law provides a gigantic new tax break. The Section 199A pass-through entity … [Read more...] about Section 199A Deduction and Principal Asset Disqualification
Pass-through Income Deduction: Top 12 Things Every Business Must Know
Late in 2017, Congress passed the Tax Cuts and Jobs Act of 2017, an enormous, complicated 500-page chunk of tax law. Among other things, the new law … [Read more...] about Pass-through Income Deduction: Top 12 Things Every Business Must Know
IRS Wealth Statistics Paint Fascinating Picture of Top One Percent
IRS wealth statistics paint a fascinating picture of the wealthiest Americans—but oddly a picture that diverges from what the mainstream media … [Read more...] about IRS Wealth Statistics Paint Fascinating Picture of Top One Percent
Section 199A Qualified Business Income Deduction: Big Savings for Small Businesses
The Tax Cuts and Jobs Act added a new business deduction to tax law: the Section 199A Qualified Business Income Deduction. In a nutshell, the … [Read more...] about Section 199A Qualified Business Income Deduction: Big Savings for Small Businesses
Year-end S Corporation Accounting Checklist
Do you own or do the accounting for an S corporation? If so, you want to make sure you take care of handful of year-end S corporation accounting tasks … [Read more...] about Year-end S Corporation Accounting Checklist
Pass-through Entity Tax Cut Rules Are Complicated
Last week, House Republicans passed the “Tax Cuts and Jobs Act.” The law gives many sole proprietors, partnerships and S corporations a tax cut by … [Read more...] about Pass-through Entity Tax Cut Rules Are Complicated
Small Business Power Law Dynamics: Secret to Jacking Profitability?
Peter Theil, in his provocative book Zero to One, talks about the power law dynamics you want to get “going” if you’re an entrepreneur working in … [Read more...] about Small Business Power Law Dynamics: Secret to Jacking Profitability?
Retirement Spending and Joint Life Expectancy
Last summer, vacationing in the San Juan Islands, I read the hauntingly beautiful book, The Curve of Time. Written by M. Wylie Blanchet, the book … [Read more...] about Retirement Spending and Joint Life Expectancy