by Megan Kosciolek, EA, 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, EA, 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 Brian Hare, CPA, CGMA | Sep 9, 2022 | Blog, Business, Tax
Now that Labor Day has passed, it’s a good time to think about making moves that may help lower your small business taxes for this year and next. The standard year-end approach of deferring income and accelerating deductions to minimize taxes will likely produce the...
by Brian Hare, CPA, CGMA | Aug 4, 2022 | Tax
Sometimes, bigger isn’t better: Your small- or medium-sized business may be eligible for some tax breaks that aren’t available to larger businesses. Here are some examples. 1. QBI deduction For 2018 through 2025, the qualified business income (QBI) deduction is...
by Paula Kennedy, EA | Dec 7, 2020 | Tax
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...
