Back in January 2019, the IRS provided you with a Section 199A safe-harbor option for your rental properties. This was great news because the safe harbor made it a lot easier for your rental properties to qualify for the valuable 20% Section 199A deduction. Now, nine months later, the IRS has issued the final version of the rental safe harbor and it includes some very … [Read more...]
Legislation
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New Individual Coverage HRA Turns the Clock Back To Pre-ACA Health Care Options
It’s a fact. The Affordable Care Act (ACA) destroyed many benefits provided by the Section 105 medical reimbursement plan. To rectify this, the Qualified Small Employer Health Reimbursement Arrangement (QSEHRA), introduced in 2017, did help to some extent. How? By letting employers with fewer than 50 employees, reimburse certain health care costs up to a set limit … and … [Read more...]
Capture Your 199A Tax Deduction
Get your 94-page FREE eBook right now. (It normally sells for $129!) “A Practical Guideto the Section 199A Deduction” How to put the powerof this fabulous deduction to work for YOU! (Yours FREE as a “thank you” gift) Dear Business Owner in Search Of A Huge Deduction: I’m writing to tell you that you may be eligible for a deduction of up to 20% of … [Read more...]
Spousal Business and the 199A Deduction
I’d like to ask you a hypothetical question. (If you know the answer, great. If not, I’ll help you out.) Here are the facts of the story you’ll need to know… Fact #1: A doctor operates a medical practice as an S corporation and he’s the sole shareholder. Fact #2: His wife owns an advertising firm that she also operates as an S corporation. She is the sole … [Read more...]
New Partnership Audit Procedures For 2019
Howdy partner! If you run your business as a partnership, or an LLC taxed as a partnership, there are some important things you need to know. For starters, you should be aware that Congress changed the IRS procedures for auditing partnerships. These new procedures take effect beginning with your 2018 partnership tax return. Under the new rules, an audit can lead to a … [Read more...]