Update: How to Ensure Your Real Estate Investment Qualifies for the 20% QBI Deduction

The IRS knows that there has been confusion as to whether or not rental real estate qualifies for the new 20% pass-through deduction on Qualified Business Income. The IRS issued guidance in the form of a safe harbor, which, if met, will ensure that your rental property qualifies for this valuable tax deduction. We break down the safe harbor to help you determine if your property qualifies…

How a Glaring Hole in Quickbooks Online Makes Life Difficult for Accrual-Basis Companies That Are Cash-Basis Taxpayers (And How to Work Around It)

Quickbooks Online does many things well, but the inability to indicate if a journal entry should affect both accrual and cash basis reports or if it should only affect accrual basis reports is a glaring hole that can make things difficult for small business owners (especially for businesses with deferred revenue), so we came up with a workaround…

January 2019 Client Bulletin

Our January bulletin looks at IRAs – Double (and triple) IRA season is here, reviewing your insurance coverage, and the IRS’s take on business meal deductions.

December 2018 Client Bulletin

Our Dec 2018 bulletin looks at the affect of the new SALT deduction limits on home sales, the importance of powers of attorney, and how small businesses should handle year-end bonuses.

November 2018 Client Bulletin

Our November client bulletin takes a look at tax planning for individuals and businesses under the new tax law, with a close look at changes to individual deductions.