Posts Tagged: tax planning

Small business owners, don’t miss the opportunity to maximize the new 20% Qualified Business Income deduction!

The 2017 Tax Cuts and Jobs Act added one of the largest tax benefits to small business owners in decades.  The IRC section 199A Qualified Business Income deduction (QBI) allows flow-through entities to claim a deduction of up to 20% of their qualified business income.  These flow-through entities include: Sole proprietorships Partnerships S-corporations, and Certain… Read more »

Opportunity Funds, Don’t Miss Out on this Little Known Tax Break

What are Opportunity Funds? Opportunity Funds are either a partnership or corporation that invests in eligible property located in an Opportunity Zone.  An Opportunity Zone is an economically challenged area where certain new investments receive preferential tax treatment.  A location qualifies as after a State has nominated the area and the Secretary of the U.S…. Read more »

Tax reform: What the 2017 Tax Cuts and Jobs Act means for you

The U.S. House of Representatives and Senate passed the “Tax Cuts and Jobs Act” on December 20, 2017, and President Trump signed the law before Christmas. This piece of legislation is the most comprehensive change to the tax code since the Tax Reform Act of 1986. Because most of changes took effect January 1, 2018,… Read more »

Highlights of the 2017 Tax Cuts and Jobs Act

The U.S. House of Representatives and Senate passed the “Tax Cuts and Jobs Act” on December 20, 2017, and President Trump signed the law before Christmas.  This piece of legislations is the most comprehensive change to the tax code since the Tax Reform Act of 1986. Most of these provisions take effect for tax years… Read more »

Think Beyond Do-it-Yourself Tax Software

This article was originally seen on The Register-Guard’s website. Recently, while at a routine health check-up, my doctor asked what I enjoy the most about my job as owner of Accurate Bookkeeping & Tax Services . “Is it doing corporate taxation, estate taxation, or individual tax returns?” After thinking about the question for a few… Read more »