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Tuesday Tax Tidbit
Author
Alyssa Martin
Brian Reed
Brian Thomas
Brittany George
Bruce Zaret
Cory Bunyard
Dale Jensen
David Duree
Ed Polansky
Elizabeth Bunk
Emily Adams
Ira Nevelow
Jacob Tate
James Mihills
Jeff Sanders
Jody Allred
John Mackel
Kaci Howell
Laura Roman
Mark Lund
Mark Watson
Mary Thomas
Matt Federle
Michael Winters
Mike Hirsh
Mike Hunter
Mike Stein
Mostafa Popal
Neha Patel
Rachel Mondragon
Raveen Bhasin
Reema Parappilly
Robert Henry
Sara Dempsey
Sean Muller
Tommy Lawler
Trent Foster
Trey Hunt
Trip Hillman
When Are LLC Members Subject to Self-Employment Tax?
Limited liability company (LLC) members commonly claim that their distributive shares of LLC income — after deducting compensation for services in the form of guaranteed payments — aren’t subject to self-employment (SE) tax. But the IRS has been cracking down on LLC members it claims have…
IRS Offers Last-Minute Guidance for QBI Deduction
When the Tax Cuts and Jobs Act (TCJA) passed in December 2017, the sizable cut in corporate tax rates got all the publicity. But the TCJA also includes a generous deduction for smaller businesses that operate as pass-through entities, with income that is “passed through” to owners and taxed as…
Fundamental Tax Truths for C Corporations
The flat 21% federal income tax rate for C corporations under the Tax Cuts and Jobs Act (TCJA) has been great news for these entities and their owners.
How Experts Use Tax Returns to Find Hidden Assets
Business owners engaged in fraudulent activities often try to manipulate their companies’ financial statements. Fortunately for fraud experts, business owners’ tax returns aren’t as easy to misrepresent. Here’s how experts use them to locate hidden assets and income.
2019 Tax Calendar
To help you make sure you don’t miss any important 2019 deadlines, we’ve provided this summary of when various tax-related forms, payments and other actions are due. Please review the calendar and contact us if you have any questions about the deadlines or would like assistance in meeting them…
Installment Sales: A Viable Option for Transferring Assets
Are you considering transferring real estate, a family business or other assets you expect to appreciate dramatically in the future? If so, an installment sale may be a viable option.
How Did Tax Reform Affect Financial Reporting?
As businesses complete their first year under the Tax Cuts and Jobs Act (TCJA), the Financial Accounting Standards Board (FASB) continues to monitor how companies and their auditors are tackling its financial reporting ramifications. For now, no new guidance is in the works, in spite of lingering…
IRS Waives 2018 Underpayment Tax Penalties for Many Taxpayers
The IRS has some good news for certain taxpayers — it’s waiving underpayment penalties for those whose 2018 federal income tax withholding and estimated tax payments came in under their actual tax liabilities for the year.
Many Tax-Related Limits Affecting Businesses Increase for 2019
A variety of tax-related limits affecting businesses are annually indexed for inflation, and many have gone up for 2019. Here’s a look at some that may affect you and your business.