You may be eligible for the qualified business income deduction if you are a small business owner.The Qualified Business Income (QBI) deduction provides small business owners with...
Posted by Jim McClaflin, EA, NTPI Fellow, CTRC on 01/09/2023
We not only avoid debt or pay taxes to stay out of trouble but more because it reflects on an individual's responsibility. Doing something because it is one's duty to avoid...
Posted by Rosovich & Associates, Inc. on 02/28/2022
Do you have a small business? You can take advantage of these ten deductions to reduce your taxable income. The legal reduction in taxable income isn't as thrilling as winning...
Posted by Rosovich & Associates, Inc. on 07/31/2021
The significant difference between S corps and partnership is the protection limited liability that S corps business owners enjoy. Partnerships, however, do not have this protection,...
Posted by Jim McClaflin, EA, NTPI Fellow, CTRC on 04/27/2021
A tax amnesty is a program by the US government designed for tax defaulters to pay a part of some of their debt without the interest and penalties. This happens in the US, in which...
Posted by Rosovich & Associates, Inc. on 03/05/2021
The TCJA that was passed in 2017 significantly reduced the corporate tax rate and introduced the Qualified Business Income Deduction (QBID).The QBI deduction makes it possible to reduce...
Posted by Elliot Kravitz, ATP on 11/24/2020
The Internal Revenue Code (IRC) talks about Title 26 of the U.S. Code. It is commonly called IRS Code or IRS tax code with laws enforced by the Internal Revenue Service. The United...
Posted by Elliot Kravitz, ATP on 08/28/2020
In general, if the IRS refuses your statement, it's probably because it contains an error other than a simple mathematical error. The IRS generally corrects mathematical errors...
Posted by Elliot Kravitz, ATP on 11/05/2019
Don't know what portion of your income goes to taxes and why it doesn't match the rate in the tax table? Here are the basics of how income tax rates work.Introduction –...
Posted by CORE PERFORMANCE on 08/15/2021
