Help yourself to a tasty buffet of tax breaks! The new Consolidated Appropriations Actis serving them up now! Read the full article now… “Business Tax Breaks Thanks tothe Recently Enacted CAA” Good news! The new Consolidated Appropriations Act (CAA), signed into law on December 27, 2020, can be a real money saver for business owners like you! You see, the new … [Read more...]
Deducting Business Casualty Losses: You Don’t Need a Disaster
Disasters are always terrible when they strike,but you can reduce the pain! Read the full article to find out how…“Deducting Business Casualty Losses:You Don’t Need a Disaster” Let’s talk disasters.Okay. This isn’t an upbeat subject, but if you’re ever hit with a disaster, you’ll be glad you read the full article. You see, the article explains, in detail, the crucial … [Read more...]
QBI Update: Impact of Negative QBI and Previously Suspended Losses
Section 199A of the tax code can give youa 20% deduction… or a throbbing headache. We’ll give you the details (and a couple of aspirin)when you read the full article: “QBI Update: Impact of Negative QBI andPreviously Suspended Losses” [QBI=Qualified Business Income] Is your business defined by the IRS as a pass-through entity*? (If you’re reading this email, it … [Read more...]
Boost QBI: Pay Partners and LLC Members Preferred Returns
Let me ask you two important questions… Do you operate your business as a partnership, or as an LLC that’s treated as a partnership for federal income-tax purposes?Are you compensating yourself and your fellow partners as LLC members with so-called “guarantee” payments? Then here’s some advice I urge you accept… Consider compensating yourself and your partners with … [Read more...]
Congress Passes Corporate Transparency Act: What It Means for You
Say goodbye to privacy.Say hello to new reporting requirements. Read the full article:“Congress Passes Corporate Transparency Act:What It Means for You” Are you running an LLC or a corporation? Then be prepared for an important change in the law… Starting in 2022, the new Corporate Transparency Act (CTA) goes into effect… For the first time, federal law will … [Read more...]