QBI Deductions, Limitations, and Requirements
The IRS recently issued guidance on the new deduction for up to 20% of qualified business income (QBI) from pass-through entities under the Tax Cuts and Jobs Act (TCJA). It…
Valid Test MD-102 Tutorial 📘 Pass MD-102 Exam 🧟 New MD-102 Test Dumps 👟 Go to website ⇛ www.pdfvce.com ⇚ open and search for （ MD-102 ） to download for free 🖤MD-102 Valid Test Answers
2017 Tax Reform Bill
…earnings from overseas. Furthermore, a complex new system for international taxation is being implemented. TAXATION OF PASS THROUGH ENTITIES Qualified business income deduction: Non-corporate taxpayers (such as partners and shareholders…
Timing and Taxes: Two Critical Issues when Buying or Selling a Home
…least one spouse must pass the ownership test, and both spouses must pass the use test. If you excluded a gain from an earlier principal residence sale under these rules,…
What You Can Deduct When Volunteering
…“Select Check”) at https://www.irs.gov/charities-non-profits/tax-exempt-organization-search to find out. Assuming the charity is qualified, you may be able to deduct out-of-pocket costs that are: Unreimbursed, Directly connected with the services you’re providing,…
Oct. 15 Deadline Approaches For Taxpayers
…zone. They typically have 180 days after they leave the combat zone to file returns and pay any taxes due. Taxpayers in federally declared disaster areas who already had valid…
When partners pay expenses related to the business
…For example, partners in service partnerships may incur entertainment expenses in developing new client relationships. They may also incur expenses for: transportation to get to and from client meetings, professional…
Tax-Free Fringe Benefits Help Small Businesses and Their Employees
…passes and van pooling, are tax-free to recipient employees. However, the TCJA suspends through 2025 the business deduction for providing such benefits. It also suspends the tax-free benefit of up…
Summary of Coronavirus Aid, Relief and Economic Security Act (CARES Act)
…Penalty-free early withdrawal of retirement funds during 2020 up to $100,000. Repayment of distributions during the next three years will be treated as tax-free rollovers of the distribution. The bill…
Want to Find Out What IRS Auditors Know About Your Business Industry?
…they also can help businesses ensure they aren’t engaging in practices that could raise audit red flags. For a complete list of ATGs, visit the IRS website here: https://www.checkpointmarketing.net/newsletter/linkShimRadar.cfm?key=89521303G3971J9374974&l=72457 Give…
Beware the Ides of March — if you own a pass-through entity
…liability companies (LLCs) treated as partnerships or S corporations for tax purposes. Why? The Ides of March, more commonly known as March 15, is the federal income tax filing deadline…