In our last post we mentioned that the IRS had finally released the draft instructions for the new Form 8995 (used to calculate the Section 199A Qualified Business Income deduction). In the ...

Standard Deduction (MFJ), $12k Senior Bonus, $15M Estate Exclusion, and 20% QBI potential lead the charge for big savings.

One of the top-of-mind questions business clients look to accounting professionals for guidance on is, "Which entity type will maximize my tax deductions and minimize tax liability?" With the ...

The Internal Revenue Service hasn’t been properly vetting millions of dollars in deductions claimed for the qualified business income tax break that could be erroneous, according to a recent report.

In 2017, Congress passed the Tax Cuts and Job Act (TCJA), which introduced sweeping changes to the tax code, including a tax cut called the Qualified Business Income deduction. This bill allowed ...

Policy shifts from Trump's bill could raise the average family's annual spending by $2k+. To handle cost pressures, here are ...

A significant but complicated tax deduction for business owners that could expire at the end of next year has delivered savings for some — especially the wealthiest owners. Its impact on jobs and ...

A sizable tax deduction for the qualified business income of pass-through entities faces potential expiration next year. A panel of university economists and one of the most influential think tanks in ...

Providers are watching to see how OBBBA's Medicaid provisions play out but may be unaware the bill offers “significant” tax ...

A quick review of the cannabis landscape[i] reveals that most of the tax-related activity remains at the state level. At present, most states have decriminalized the use of cannabis products; it ...

The 2017 Tax Cuts and Jobs Act has resulted in numerous changes to the tax laws— both on the individual and business levels. Some of the most impactful changes affecting 2018 and beyond are those ...