This is an overview of Domestic Production Deduction for Business Taxes, for the 2018 Tax Law.
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This is an overview of the Entertainment for Business Taxes, for the 2018 Tax Law.
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This is an overview of Like-Kind Exchanges for Business Taxes, for the 2018 Tax Law.
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This is an overview of Net Operating Carryback for Business Taxes, for the 2018 Tax Law.
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This is an overview of the Cash Method of Accounting for Business Taxes, for the 2018 Tax Law.
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This is an overview of the miscellaneous expenses subject to the 2% limitation for an individual, for the 2018 Tax Law.
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This is an overview of the Taxes on Schedule A for an individual, for the 2018 Tax Law.
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This is an overview of the medical expenses for an individual, for the 2018 Tax Law.
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One of the most important – and complicated – changes in the new tax reform act is to tax rules affecting small businesses that are treated as “pass-through entities.”
The good news is that if you own one of these businesses you may get as much as a 20 percent reduction to the taxation of business net income under the new rules. However, calculating the actual deduction can become very complex. It depends upon several factors, including your level of income, your profession, the amount your business spends on wages and property acquired during the year.
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