If the next Presidential election were held today, the Republicans might like their odds very much. In Presidential elections, most voters care little or nothing about things like immigration policy and trade tariffs. They really only care about jobs and the economy. Right now, overall growth is strong, and the employment market is even stronger.

But a lot can happen in two years. Nothing lasts forever, and that includes economic expansions. Moreover, Special Counsel Robert Muller’s investigative report is due out sometime in 2019. His findings could be entirely benign, detail the worst high-level corruption since Watergate, or be somewhere in between.

So, it is not too early to start thinking about what if. After all, the Constitution’s Origination ClauseRead more →

The partnership salary rule is already a head-scratcher. Once partners feel the full impact of the 2017 Tax Cut and Jobs Act in the spring of 2019, the rule will be confusing as well. The planning is quite complex, but the end payoff – a 20 percent deduction – is very had to pass up.

This provision is a new one, so there is very little guidance. It applies to most businesses except C Corporations which pays double taxes. Other business associations are pass-through entities which only pay a single level of income tax.

Step One: Organizational Qualifications

Section 199A’s intent is clear. The TCJA gives substantial breaks to many individuals, and the government does not want to exclude small … Read more →

Almost a year has passed since the tax changes were enacted under the 2017 Tax Cuts and Jobs Act. Those who were really on top of things took them into consideration in January. Most business owners took a little time, and if you procrastinated, the clock is ticking.

Have you been thinking about how they will affect your business—not just this year but moving forward? Does restructuring your business make sense?

There are two main pass-through entities most startups align with initially. Briefly, pass-through entities refer to entities such as LLCs and S corps. C corps are generally not considered for most.

The Tax Cuts and Jobs Act works well for pass-throughs because of the new 20 percent deduction (through … Read more →

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