If you operate as an S corporation, you already know that you need to set a salary for shareholder-employees. A reasonable one. And you hear lots … [Read more...] about IRS S Corporation Shareholder Salary Data
Corporate taxation
Killer Small Business Tax Breaks
We've been talking tons about Covid 19 stuff over the last few weeks. Like the paycheck protection program. And employee retention credits. But a … [Read more...] about Killer Small Business Tax Breaks
Physician 199A Deductions Can Work (if You Know Rules)
This week, I talk about physician 199A deductions. More specifically, I talk about how many physicians who own part or all of their medical … [Read more...] about Physician 199A Deductions Can Work (if You Know Rules)
Research and Development Credit Explained
Tax credits provide a popular way to pay less tax. A dollar of tax credit, for example, saves a dollar of tax. And one popular tax credit? The … [Read more...] about Research and Development Credit Explained
Ignoring IRS 8995 Instructions to Double-deduct Self-employed Health Insurance
If you’re reading this, you already know, right? In many situations, the 199A regulations require adjustments to the qualified business income number … [Read more...] about Ignoring IRS 8995 Instructions to Double-deduct Self-employed Health Insurance
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
Section 951A GILTI Tax Avoidance: Ten Tricks
And what's worse? Many of these folks don't even know yet that they have to deal with a new tax. No kidding, this could get ugly. … [Read more...] about Section 951A GILTI Tax Avoidance: Ten Tricks
Section 962 Election: An Answer to GILTI?
As you probably know if you’re reading this blog post, many investors and entrepreneurs with an international footprint face a painful new tax, the … [Read more...] about Section 962 Election: An Answer to GILTI?
Do You Owe the Section 965 Transition Tax?
For either 2017 or 2018, many U.S. taxpayers with an interest in a foreign corporation owe(d) the § 965 transition tax. However, the new rule arrived … [Read more...] about Do You Owe the Section 965 Transition Tax?
Will Your Small Business Owe GILTI Tax?
A prediction for the coming tax season: GILTI taxes will blindside some small business owners operating internationally. Many small business owners … [Read more...] about Will Your Small Business Owe GILTI Tax?