Innovative Strategies For Tax Controversies, Business Structuring And Estate Planning
Family Business Planning can save tax
AN FLP CAN SAVE TAX IN A FAMILY BUSINESS SUCCESSION One of the biggest concerns for family business owners is succession planning — transferring ownership and control of the company to the next generation. Often, the best time tax-wise to start transferring ownership...
Capital Gain Tax Rate to be adjusted by inflation?
Trump administration considers taking inflation into account when taxing capital gains As reported by Reuters: The Trump administration is considering bypassing Congress to grant a $100 billion tax cut (as projected over a decade) to taxpayers by taking inflation into...
Home Office Deduction after Tax Reform
DO YOU QUALIFY FOR THE HOME OFFICE DEDUCTION? Under the Tax Cuts and Jobs Act, employees can no longer claim the home office deduction. If, however, you run a business from your home or are otherwise self-employed and use part of your home for business purposes, the...
Hign Tax States Sue Federal Government
The high tax States, including New Jersey, are suing the Federal Government because of the Tax Reform Act. They are arguing the $10k cap on State and Local Taxes is somehow Unconstitutional. They will lose. There is no right to have a Federal Tax Deduction for local...
How to Avoid the !00% (6672 VCivil Penalty) for Employment Taxes
HOW TO AVOID GETTING HIT WITH PAYROLL TAX PENALTIES For small businesses, managing payroll can be one of the most arduous tasks. Adding to the burden earlier this year was adjusting income tax withholding based on the new tables issued by the IRS. (Those tables...
New Tax Law Qualified Business Income Dedcution
CLOSE-UP ON THE NEW QBI DEDUCTION’S WAGE LIMIT The Tax Cuts and Jobs Act (TCJA) provides a valuable new tax break to noncorporate owners of pass-through entities: a deduction for a portion of qualified business income (QBI). The deduction generally applies to income...
Back from my Cruise – Frequent Flyer Miles Not Taxable!
see: http://www.TaxEsq.com
Does Your Online Business Need to Collect Sales Tax>
CLOSE-UP ON THE NEW QBI DEDUCTION’S WAGE LIMIT The Tax Cuts and Jobs Act (TCJA) provides a valuable new tax break to noncorporate owners of pass-through entities: a deduction for a portion of qualified business income (QBI). The deduction generally applies to income...
LLC vs. C Corporation vx. S Corporation under the new Tax Cuts
CHOOSING THE BEST BUSINESS ENTITY STRUCTURE POST-TCJA For tax years beginning in 2018 and beyond, the Tax Cuts and Jobs Act (TCJA) created a flat 21% federal income tax rate for C corporations. Under prior law, C corporations were taxed at rates as high as 35%. The...
