This time of the year, tax accountants confront a common problem. That problem? Well, okay, this is awkward… but somehow, no one quite knows how, … [Read more...] about Late S Corporation Payroll Hacks
business taxes
Section 199A Deduction Rookie Mistakes
CPAs and taxpayers made some Section 199A mistakes in 2018. We saw that a lot in the returns people asked us to review. And in the returns that passed … [Read more...] about Section 199A Deduction Rookie Mistakes
How the IRS Destroyed the Section 199A Deduction for Small Business S Corporations and Partnerships
I’ve got some bad news, unfortunately. The IRS may have destroyed or dramatically reduced your Section 199A deduction. At least if you’re a typical … [Read more...] about How the IRS Destroyed the Section 199A Deduction for Small Business S Corporations and Partnerships
Maximize Depreciation Deductions under the Tax Cuts and Job Act of 2017
The Tax Cuts and Jobs Act (TCJA) of 2017 created new depreciation rules. And both business owners and real estate investors want to learn the new … [Read more...] about Maximize Depreciation Deductions under the Tax Cuts and Job Act of 2017
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
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
How to Apply for a Washington Business License
If your company does business in Washington, then you likely need a Washington business license. Luckily, applying for a new business license in … [Read more...] about How to Apply for a Washington Business License
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
Section 951A GILTI Tax Avoidance: Ten Tricks
For some small businesses and individuals, the new Section 951A GILTI tax creates a huge planning challenge and compliance burden. And what's … [Read more...] about Section 951A GILTI Tax Avoidance: Ten Tricks
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