One of the top-of-mind questions business clients look to accounting professionals for guidance on is, "Which entity type will maximize my tax deductions and minimize tax liability?" With the ...

A significant but complicated tax deduction for business owners that could expire at the end of next year has delivered savings for some — especially the wealthiest owners. Its impact on jobs and ...

As we approach what is being called the "Super Bowl of Taxes" in 2025—the scheduled sunset of key provisions in the Tax Cuts and Jobs Act (TCJA)—there's a benefit at risk that few in the child care ...

In our last post we mentioned that the IRS had finally released the draft instructions for the new Form 8995 (used to calculate the Section 199A Qualified Business Income deduction). In the ...

Senate Finance Committee chairman Ron Wyden, D-Oregon, introduced legislation Tuesday to streamline the section 199A deduction for qualified business income for pass-through entities, allowing ...

Clients with certain pass-through entities need to know about a new bill that could affect their taxes. The Small Business Tax Fairness Act, recently introduced in the Senate by Sen. Ron Wyden (D-OR), ...

We had a reader send in the following comments today: Last year, if we had an “old” (Sec. 199, no cap “A”) DPAD pass-through from a cooperative, we needed to allocate a portion of farm income to that, ...