TCJA Tax Reform Sticks It to Business Start-Ups That Lose Money Good news. The Tax Cuts and Jobs Act (TCJA) didnot harm the backdoor Roth strategy. As you likely know, the Roth IRA is a terrific wayto grow your wealth with a minimum tax downsidebecause you pay the...
Improvement Property Update Qualified improvement property is any improvement to the interior portion of a building that is nonresidential real property (think office buildings and shopping centers) if you place the improvement in service after the date you place the...
Terminating Your S Corporation Election Tax reform may have you thinking of changing your S corporation to a C corporation, partnership, or sole proprietorship. With such a switch, you need to consider: How do I terminate the S corporation election correctly? What are...
How to Reimburse Medicare When You Have Fewer Than 20 Employees The Affordable Care Act’s $100-a-day penalty for improper medical reimbursements likely has your attention. And it should. But you can find many reimbursements that are allowed without penalty, including...
IRS Section 199A Final Regs Shed New Light on Service Businesses Remember, new tax code Section 199A offers you a 20 percent tax deduction gift if you havepass-through business income (such as from a proprietorship, a partnership, or an S corporation), and2018 taxable...
IRS Creates a New “Safe Harbor” for Section 199A Rental Properties The Section 199A 20 percent tax deduction is a gift from lawmakers—literally. You don’t earn this deduction; it’s simply there for you if you qualify. Under the trade or business rule, your rental...
