tax cuts

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 […]

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Top 10 Tax Deductions for Self-Employed Individuals

If you’re a freelancer, independent contractor, sole proprietor, or small business owner, you might be wondering how the implementation of the Tax Cuts and Jobs Act will affect you come tax season. With this in mind, below is a list of the top 10 tax deductions effective for this year. Qualified Business Income (QBI) Deduction […]

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Will the Tax Cuts and Jobs Act Affect Your Business?

There has been much discussion around how the new tax laws will affect individual taxpayers and families of all income levels, but what about small businesses, startups and corporations? Individual taxpayers will see a decrease in their income tax rate, a doubling of the standard deduction, a reduction of itemized deductions and changes to elder […]

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