by Megan Kosciolek, MST | Jan 17, 2023 | Blog, Tax
If you’re a parent or grandparent with college-bound children, you may want to save to fund future education costs. Here are several approaches to take maximum advantage of the tax-favored ways to save that may be available to you. Savings bonds Series EE U.S. savings...
by Megan Kosciolek, MST | Jan 7, 2023 | Blog, Tax, Uncategorized
If you own a home and rent it to a relative, you may be surprised to find out there could be tax consequences. Quick rundown of the rules Renting out a home or apartment that you own may result in a tax loss for you, even if the rental income is more than your...
by Megan Kosciolek, MST | Dec 22, 2022 | Blog, Business, Tax
There are a few partnership-specific provisions in the Tax Cuts and Jobs Act (TCJA) that could impact how you compensate yourself. Specifically, if you receive a guaranteed payment, you should make sure you’re aware of how the QBI deduction works along with current...
by Megan Kosciolek, MST | Dec 15, 2022 | Blog, Business, Tax, Uncategorized
If you own a business, you may wonder if you’re eligible to take the qualified business income (QBI) deduction. Sometimes this is referred to as the pass-through deduction or the Section 199A deduction. The QBI deduction is: Available to owners of sole...
by Megan Kosciolek, MST | Dec 4, 2022 | Blog, Business, Tax
Businesses shut down for many reasons. Some of the reasons that businesses shutter their doors: An owner retirement, A lease expiration, Staffing shortages, Partner conflicts Increased supply costs. If you’ve decided to close your business, we’re here to assist you in...
