This year brought numerous changes to the tax preparation and planning process for both individuals and businesses. Consider the following before filing your 2019 taxes:
This year brought numerous changes to the tax preparation and planning process for both individuals and businesses. Consider the following before filing your 2019 taxes:
The Tax Cuts and Jobs Act (TCJA) created the Qualified Business Income (QBI) deduction for tax years 2018-2025. Essentially, certain elements (but not all) of a business owner’s income are getting a tax break.
Recent tax reform requires you to make changes to your company’s accounting. The Tax Cuts and Jobs Act (TCJA) that was passed in December 2017 and takes effect this year has created more headlines that you can count. You’ve probably heard about reduced tax rates, an increase in the standard deduction and possibly even a qualified business income deduction for pass-through entities.