Section 199A – DougFreemanCPA.com

Many business tax limits have increased in 2025

2025 Mileage Deduction, Business Mileage, Federal Tax Deductions, Flexable Spending Accounts, Fringe Benefits For Employees, Health Savings Account, Savings Incentives Match Plans for Employees (SIMPLEs), Small Business Tax Tips, Social Security Tax, Tax Deduction, Tax Planning, Taxes 2025 / Douglas Freeman

A variety of tax-related limits that affect businesses are indexed annually based on inflation. Many have increased for 2025, but with inflation cooling, the increases aren’t as great as they have been in the last few years. Here are some amounts that may affect you and your business. 2025 deductions as compared with 2024 Retirement […]

Many business tax limits have increased in 2025 Read More »

The possible tax landscape for businesses in the future

Corporate Federal Income Tax Rate, Corporations, Partnerships, Past-Through Entities, Qualified Business Income Deducton (QBI), S Corporation, Small Business, Small Business Owners, Sole Proprietors, Tax Cuts and Job Acts (TCJA) / Douglas Freeman

Get ready: The upcoming presidential and congressional elections may significantly alter the tax landscape for businesses in the United States. The reason has to do with a tax law that’s scheduled to expire in about 17 months and how politicians in Washington would like to handle it. How we got here The Tax Cuts and

The possible tax landscape for businesses in the future Read More »

What might be ahead as many tax provisions are scheduled to expire?

Corporate Tax Rates, Deductions, Federal Tax Deductions, Federal Taxes, Itemized Deduction, Past-Through Entities, Qualified Business Income Deducton (QBI), Tax Cuts and Job Acts (TCJA), Taxes 2024 / Douglas Freeman

Buckle up, America: Major tax changes are on the horizon. The reason has to do with tax law and the upcoming elections. Our current situation The Tax Cuts and Jobs Act (TCJA), which generally took effect in 2018, made sweeping changes. Many of its provisions are set to expire on December 31, 2025. With this

What might be ahead as many tax provisions are scheduled to expire? Read More »

Do you qualify for the QBI deduction? And can you do anything by year-end to help qualify?

Business Deductions, Qualified Business Income Deducton (QBI), Small Business, Sole Proprietors / Douglas Freeman

If you own a business, you may wonder if you’re eligible to take the qualified business income (QBI) deduction. Sometimes this is referred to as the pass-through deduction or the Section 199A deduction. The QBI deduction is: Available to owners of sole proprietorships, single-member limited liability companies (LLCs), partnerships, and S corporations, as well as

Do you qualify for the QBI deduction? And can you do anything by year-end to help qualify? Read More »

Is an LLC the right choice for your small business?

Assets, Limited Liability Company, LLC, Partnerships, S Corporation, Tax Deduction, Tax Savings / Douglas Freeman

Perhaps you operate your small business as a sole proprietorship and want to form a limited liability company (LLC) to protect your assets. Or maybe you are launching a new business and want to know your options for setting it up. Here are the basics of operating as an LLC and why it might be

Is an LLC the right choice for your small business? Read More »

Numerous tax limits affecting businesses have increased for 2020

401K, HSA, Retirement, Simples, Small Business, Social Security / Douglas Freeman

An array of tax-related limits that affect businesses are annually indexed for inflation, and many have increased for 2020. Here are some that may be important to you and your business. Social Security tax. The amount of employees’ earnings that are subject to Social Security tax is capped for 2020 at $137,700 (up from $132,900

Numerous tax limits affecting businesses have increased for 2020 Read More »