There’s one section of the tax code that can save you a lot of money. I’m talking about Section 199A. It lets you claim a valuable 20-percent qualified-business-income (QBI) deduction when you rent an office or other building to your personally owned C corporation. But of course, since we’re dealing with the IRS, the devil is in the details. We’ll help you understand … [Read more...]
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QBI and Self-Employment Tax Savings for S Corp. as a Partner
Here are three important questions for S corporation owners: Do you own 100-percent of your S corporation?Is your S corporation a partner in one or more partnerships and does it receive a combination of guaranteed payments and ordinary pass-through income from these partnerships?Do you draw a salary from the S corporation for the services you perform for those … [Read more...]
Free report: “Rental Property & The 199A Deduction”
Download your FREE REPORT right now… “Rental Property & The 199A Deduction” Don’t miss gettingyour Section 199A 20% tax deduction! This special 21-page report normally sells for $79.Now it’s yours FREE with no obligation! Dear Rental Property Owner: Whether you own just one rental property or many, don’t miss this information-packed free report from … [Read more...]
IRS FAQs on Section 199A: Nasty? Helpful? Wrong?
On April 11, the IRS posted its updated Section 199A Frequently Asked Questions (FAQs). These FAQs were intended to provide helpful information for taxpayers, but instead, they will cause a lot of confusion and grief. Why? Because following the confusing advice of three of the FAQs will ultimately force some taxpayers to file amended tax returns! What’s going on? We’ll … [Read more...]
How to Handle Multiple Rental Activities and the 199A Deduction
Do you engage in multiple rental property activities? If you do, you’ll find that applying the Section 199A deduction can be complicated indeed. That’s why it’s so important for you to read this new edition of the Tax Reduction Letter. You see, we’ll explain the issues you need to consider if you own multiple properties that can generate the valuable new … [Read more...]