The Section 2301 Employee Retention Credit gets a little bit complicated once you dig into the details. But if you're a small business owner, you … [Read more...] about The 50 Percent Section 2301 Employee Retention Credit
business taxes
COVID-19 Small Business Tax Relief
The nearly 900-page CARES act, signed this week by the President, can overwhelm small businesses and their advisers. But the new law provides small … [Read more...] about COVID-19 Small Business Tax Relief
Sobering Up About Qualified Opportunity Zones
You probably need to prepare for the holidays you and your family celebrate. Or maybe start work on some year-end accounting. Accordingly, I want … [Read more...] about Sobering Up About Qualified Opportunity Zones
Section 1202 Qualified Small Business Stock Exclusion
Are you a small business owner who wants to sell your firm? Do you operate as a "C" corporation? You definitely want to know how Section 1202 … [Read more...] about Section 1202 Qualified Small Business Stock Exclusion
Late S Corporation Payroll Hacks
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
Section 199A Deduction Rookie Mistakes
Taxpayers and their accountants easily make Section 199A mistakes when they first start working with the deduction. We see that a lot in the returns … [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