Author Archives: taxprolb
Coronavrious- CARE Act – Small Bsuiness Owner Guide 032720
TCJA Tax Reform Sticks It to Business Start-Ups That Lose Money The Tax Cuts and Jobs Act (TCJA) tax reform added an amazing limit on larger business losses that can attack you where it hurts—right in your cash flow. And this new law works in some unusual ways that can tax you even when you […]
IRS Issues Final Section 199A Regulations and Defines QBI Your ownership of a pass-through trade or business can generate a Section 199A tax deduction of up to 20 percent of your qualified business income (QBI). The C corporation does not generate this deduction, but the proprietorship, partnership, S corporation, and certain trusts, estates, and rental […]
When the Second Office in the Home Is a Principal Place of Business When possible, you want to claim that your office in your home qualifies as a principal place of business because this classification gives you the home-office deduction, and eliminates commuting from your home to your regular office. Current law gives you two […]