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Tax Reform Double Down on S Corporation Reasonable Compensation

July 8, 2024

From 2018 to 2025, the Tax Cuts and Jobs Act is offering a 20 percent deduction on pass-through business income, […]

Guide to Closing Your Sole Proprietorship

July 1, 2024

As you consider shutting down your sole proprietorship or your single-member LLC treated as a sole proprietorship for tax purposes, […]

The Power of Cost Segregation for Property Investments

June 24, 2024

One significant tax benefit of owning residential rental property or non-residential commercial or investment property is depreciation—a deduction you get […]

Tax Rules for Providing Free Meals and/or Lodging to Employees

June 4, 2024

If you’re wondering about tax-free treatment for employer-provided meals and lodging, you may find the following overview helpful. Under Section […]

Rental Property? Need a New Roof, Deduct the Old One

May 24, 2024

The IRS in its repair regulations gives you a partial disposition election that benefits you when you replace a structural […]

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