If you operate as a proprietorship, a partnership, an S corporation, or a C corporation, you’re undoubtedly aware of an unpleasant fact… Premiums for Medicare health insurance can add up to a lot of money. This is especially true if you earn a high income, you’re married, and both you and your spouse are paying premiums. But hang on for a second. If you know how to play … [Read more...]
Employees
Sorted by Date
Employee Recreation and Parties Survive TCJA Tax Reform
Here’s some good news about the Tax Cuts and Jobs Act (TCJA)… The TCJA has retained the 100-percent tax deduction for qualified employee parties and qualified employee entertainment facilities. Interestingly, if you provide a meal for your employees during a training program, you can deduct only 50-percent of the cost. But if you know the rules, you can take your … [Read more...]
IRS updates defined wages for new Section 199A tax deductions
If you want to take advantage of the new 20-percent tax deductions under tax code Section 199A, you need to follow certain important IRS rules. For example, you’ll need to calculate your business’s W-2 wages if they meet certain important criteria. What exactly are they? How can you comply with the law and stay out of the IRS’s gun sights? You’ll find out when you read … [Read more...]
Entertainment facilities survive the TCJA tax reform
As you may know, the Tax Cuts and Jobs Act tax reform decimated a host of valuable entertainment tax deduction. However, entertainment facilities luckily dodged a bullet and are still 100-percent tax deductible if you follow the IRS’s rules. What are they? You’ll find out when you read my new information-packed article titled Tax Tips: Entertainment Facilities after the … [Read more...]
Update on claiming business-deductions for work-related education
Continuous education can be extremely valuable for you and your employees. But when it comes to deducting the cost of continuous work-related education, the Tax Cuts and Jobs Act has proven rather unhelpful. In fact, the law has made some unpleasant changes you really need to know about. You’ll get a tremendous amount of timely, important information when you read my new … [Read more...]