Feb 26, 2019 | Firm Updates, Small Business, Tax Tips
Shakespeare’s words don’t apply just to Julius Caesar—they also apply to calendar-year partnerships, S corporations, and limited liability companies (LLCs) treated as partnerships or S corporations for tax purposes. Why? The Ides of March, more commonly known as March...
Feb 1, 2019 | Firm Updates, Individual Tax, Small Business
One of the provisions of the Tax Cuts and Jobs Act—the Section 199A Deduction for Qualified Business Income of Pass-through Entities (S199A)—is generating great anticipation for many taxpayers. This section of tax law provides a deduction to individuals, trusts, and...
Jan 2, 2019 | Firm Updates, Small Business
The dawning of 2019 means the 2018 income tax filing season will soon be upon us. After year end, it’s generally too late to take action to reduce 2018 taxes. Business owners may, therefore, want to shift their focus to assessing whether they’ll likely owe taxes or...
Jul 18, 2018 | Firm Updates, Small Business
The Tax Cuts and Jobs Act (TCJA) introduced a flat 21% federal income tax rate for C corporations for tax years beginning in 2018 and beyond. Under prior law, profitable C corporations paid up to 35%. This change has caused many business owners to ask: What’s...