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Partnerships

A refresher on major tax law changes for small-business owners

C Corporation, Individual Income Tax, LLC, Partnerships, Past-Through Entities, Personal Service Corporations (PSCs), Qualified Business Income Deducton (QBI), S Corporation, S Corporations, Small Business, Sole Proprietors, Tax Credits, Tax Cuts and Job Acts (TCJA) /

The dawning of 2019 means the 2018 income tax filing season will soon be upon us. After year end, it’s generally too late to take action to reduce 2018 taxes. Business owners may, therefore, want to shift their focus to assessing whether they’ll likely owe taxes or get a refund when they file their returns […]

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Tax reform expands availability of cash accounting

C Corporations, Cash Method of Accounting, Internal Revenue Service, Partnerships, Tax Cuts and Job Acts (TCJA) /

Under the Tax Cuts and Jobs Act (TCJA), many more businesses are now eligible to use the cash method of accounting for federal tax purposes. The cash method offers greater tax-planning flexibility, allowing some businesses to defer taxable income. Newly eligible businesses should determine whether the cash method would be advantageous and, if so, consider

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