Included in this month’s newsletter are several ideas to help you reduce your tax bill.
Working from a home office has become a reality for many of us this year. But what, exactly, are the rules to be able to deduct your home office expenses on your tax return? Read about some ideas to help you qualify for the deduction.
How has the 20% QBI Deduction changed since it’s release last year? This deduction was a fundamental change to the tax code brought on by the TCJA, and just over a year later (thanks to a recent IRS FAQ), we have some additional clarity on how it affects taxpayers (and who gets left out in the dust).
Update: The IRS recently released guidance related to the 20% QBI deduction. In this article we dig into the concept of aggregation and what it means for owners of multiple related businesses.
The 20% Pass-Through Income Deduction introduced by the new tax law may help you to reduce your taxes, but it is fraught with limitations, phase-outs and criteria. Find out if your business qualifies for this new, and potentially lucrative, deduction.
With the pending tax bill heading to completion, taxpayers should consider year-end strategies to make sure they are optimizing their tax situations in 2017 and beyond.