Close-up on the new QBI deduction’s wage limit
Close-up on the new QBI deduction’s wage limit The Tax Cuts and Jobs Act (TCJA) provides a valuable new tax break to noncorporate owners of pass-through entities: a deduction for a portion of qualified business income (QBI). The deduction generally applies to income from sole proprietorships, partnerships, S corporations and, typically, limited liability companies (LLCs). […]
July 30, 2018
Is your inventory getting the better of you?
Is your inventory getting the better of you? On one level, every company’s inventory is a carefully curated collection of inanimate objects ready for sale. But, on another, it can be a confounding, slippery and unpredictable creature that can shrink too small or grow too big — despite your best efforts to keep it contained. […]
July 26, 2018
Do you know the ABCs of HSAs, FSAs and HRAs?
Do you know the ABCs of HSAs, FSAs and HRAs? There continues to be much uncertainty about the Affordable Care Act and how such uncertainty will impact health care costs. So it’s critical to leverage all tax-advantaged ways to fund these expenses, including HSAs, FSAs and HRAs. Here’s how to make sense of this alphabet […]
July 25, 2018
Choosing the best business entity structure post-TCJA
Choosing the best business entity structure post-TCJA 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 […]
July 23, 2018
Finding a 401(k) that’s right for your business
Finding a 401(k) that’s right for your business By and large, today’s employees expect employers to offer a tax-advantaged retirement plan. A 401(k) is an obvious choice to consider, but you may not be aware that there are a variety of types to choose from. Let’s check out some of the most popular options: Traditional. […]