August 24, 2018
The new tax law introduces a special deduction for eligible pass-through businesses. The deduction is generally equal to 20% of “qualified business income.” It’s designed to help achieve parity between the reduced corporate income tax rate and the tax rates for business income that passes through to individual owners of sole proprietorships, partnerships, limited liability companies (LLCs) and S corporations. Here are the details.
August 20, 2018
With recent advances in bio-technology, particularly significant breakthroughs in cell biology, bio-fabrication, and materials sciences, one cannot help but feel excited for a not-so-distant future where medical practice might use engineered tissue and cells in treatment, diagnosis, or cure of medical issues.
August 20, 2018
The Centers for Medicare and Medicaid Services (CMS) released the PPS Proposed rule for federal fiscal year (FFY) 2019. The rule was published in the Federal Register on May 8, 2018. The opportunity window to submit comments and reviews to CMS was recently closed last month and a final rule has not yet been adopted.
August 16, 2018
Should Your Business Be a C Corporation or a Pass-Through Entity? The Tax Cuts and Jobs Act (TCJA) introduced a flat 21% federal income tax rate for C corporations for tax years beginning in 2018 and beyond. Under prior law, profitable C corporations paid up to 35%. This change has caused many business owners to ask: What’s the optimal choice of entity for my start-up business?
July 19, 2018
You might be in a rush to buy or sell a home before summer starts or interest rates increase. But, first, it’s important to review the tax rules related to home sales and deductions for mortgage interest, property taxes and work-related moving expenses. Some rules have changed under the Tax Cuts and Jobs Act (TCJA).
July 10, 2018
On June 21, the U.S. Supreme Court issued a ruling overturning a 1992 precedent that had barred states from requiring online retailers without a “physical presence” there to collect sales taxes. The ruling is expected to hurt online retailers and help brick-and-mortar stores. Going forward, this decision will present numerous challenges to businesses of all sizes that sell products online.