Tax

Rundown on proposed regulations on Section 199A Deduction issued by the IRS

The IRS has issued proposed regulations for Section 199A. This is my list of articles covering this new tax deduction for businesses.

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Tax Policy Debate: #TaxBuzzChat – August 1, 2018 at 12 PM CDT

Are you interested in the current state of taxes in the US? Do you wonder what #taxpros think about the current system and the proposed additional changes? Come join a diverse group of #Tax tweeters from across the twitterverse as we have a tax policy debate on Wednesday, August 1st, 2018 at 12 PM CDT.

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What you need to know about the Estimated Tax Payment due June 15, 2018

I’d like to say that you should make estimated tax payments because that’s what good, upstanding citizens do in a civilized society. But let’s face it, that doesn’t motivate many people to hand over their hard-earned money to Uncle Sam. Therefore, Congress came up with a nifty way to motivate you to make the payment – they will penalize you if you don’t make the required payment. Unfortunately, they don’t give you a reward if you have an overpayment.

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I want to help. Can I deduct my GoFundMe contribution?

GoFundMe is a popular way to support causes you care about and provide financial support to victims and survivors of natural disaster and man-made disasters. A common question is whether these “contributions” are tax-deductible as charitable contributions.

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While #SmallBusinessWeek is ending, resources are available year-round

This week  has been the 2018 Small Business Week and there have been online resources available each day, as well as live events around the country. These resources were all publicized this week, however, most of them are available all year-long. 

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Tax Topics for Small Business Week – Depreciation

Small business owners were given a powerful tool to reduce their income by the Tax Cuts and Jobs Act (“TCJA”) by making it easier to expense your fixed asset purchases. This can go a long way towards reducing your current year income which will make your income taxes go down.

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Tax Topics for Small Business Week – Estimated Tax Payments

Small business owners need to be aware of estimated tax payment requirements to avoid penalties. #SmallBusinessWeek

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