Qualified Business Deduction for Real Estate

Business owners will be able to deduct 20 percent of their qualified business income on their 2018 federal income tax return. The 20% pass through deduction applies to businesses that qualify as a Section 162 trade or business. The IRS has issued further guidance for those wondering if income from rentals will qualify as Section …

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Tax Scams to Watch Out For

While tax scams are especially prevalent during tax season, they can take place any time during the year. As a result, it’s in your best interest to always be vigilant so you don’t end up becoming the victim of a fraudulent tax scheme. Here are some of the more common scams to watch out for. …

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Ten Year-End Tax Tips for 2018

Our summaries on The Tax Cut and Jobs Act as well as Tax Reform 2.0 give a great roadmap on how to utilize the new tax changes to your advantage, especially for business owners.  Those changes, while perhaps changing the math, don’t change the benefit that the more old fashioned tax minimization techniques can bring …

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Opportunity Zones

One reason I love my job is that I get to carve out a slice for “Nerd Out” time. This is time spent reading research, crunching numbers on my own, and thinking of tax strategies, amongst other things.  Nerd Out time is not only my way of relaxing and keeping mentally curious, it helps me …

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Tax Reform 2.0

The House passed three tax bills, known as Tax Reform 2.0, at the end of September. The legislation can now advance to the Senate, though the Senate is not expected to vote on the tax-reform legislation until after the mid-term elections. The Protecting Family and Small Business Tax Cuts Act of 2018 would make the …

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