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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…

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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…

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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…

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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…

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