The House Ways and Means Committee recently passed the Retirement, Savings, and Other Tax Relief Act of 2018 through the House. Within this legislation is a bill called Taxpayers First Act of 2018, which was devised to protect taxpayers from unfair practices as well as reform the IRS. There is bipartisan support for improving […]
Brian Brammer
An IRS Revamp Could be in the Near Future
The House Ways and Means Committee recently passed the Retirement, Savings, and Other Tax Relief Act of 2018 through the House. Within this legislation is a bill called Taxpayers First Act of 2018, which was devised to protect taxpayers from unfair practices as well as reform the IRS. There is bipartisan support for improving the […]
It’s the Most Wonderful Time…To Review Business Expenses for Deductibility
As this year draws to a close, it’s wise to take the time to review your business expenses for deductibility in light of the changes made by the Tax Cuts and Jobs Act, which minimizes or omits many deductions. Below is an overview of these changes. While reviewing them, you may decide to revise your […]
Sources of Funding for Your Small Business Idea
The necessary financing needed to support the initial growth of your small business can be challenging to secure, and while it makes the most sense to diversify your sources for capital, you first need to know where to look. Below is an overview of some different funding options available to small business startups. SBA Loans […]
How to Protect Your Business from Tax Identity Theft
According to the IRS, businesses are increasingly becoming targets of tax identity theft. And as reported by the U.S. Small Business Administration, identity theft costs businesses around the world approximately $221 billion annually. To make matters worse, identity thieves are becoming increasingly sophisticated, adept with filing practices, tax code, and efficient methods for obtaining valuable […]
Tips for Business Valuation Preparation
As a business owner you should be in possession of a business valuation that is updated yearly so you have an accurate understanding of your company’s value. Updated valuations help with: taking advantage of opportunities that might arise such as planning for an expansion or taking on a new partner moving quickly when you are […]
Understanding and Calculating the New 199A Deduction
The 2017 Tax Cuts and Jobs Act created a new deduction for pass-through business owners. Called the 199A deduction, or the Qualified Business Income Deduction, it allows taxpayers other than corporations – specifically S corporations, partnerships, and limited liability companies (LLCs) – a deduction of 20 percent of qualified business income earned (also referred to […]
