by Brian Hare, CPA, CGMA | Jul 13, 2022 | Tax
Sadly, many businesses have been forced to shut down recently due to the pandemic and the economy. If this is your situation, we can assist you, including taking care of the various tax responsibilities that must be met. Of course, a business must file a final income...
by Ryan Burke, CPA, MSF | Jul 7, 2021 | Tax
Are you eligible to take the pass-through deduction for qualified business income (QBI)? Here are 10 facts about this valuable tax break, referred to as the pass-through deduction, QBI deduction or Section 199A deduction. It’s available to owners of sole...
by Brian Hare, CPA, CGMA | Nov 30, 2020 | Business
S corporations can provide tax advantages over C corporations in the right circumstances. This is true if you expect that the business will incur losses in its early years because shareholders in a C corporation generally get no tax benefit from such losses....
by Brian Hare, CPA, CGMA | Aug 7, 2018 | Business, Tax
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 TCJA also reduced individual income tax rates, which...
