An Overview of Qualified Business Income (QBI) Deductions: Part Two; Taxpayers Above the Higher Taxable Income Threshold
The first post in this series on QBI deductions examined the purpose of the deduction, who can claim it, and how to calculate QBI deductions for taxpayers in a lower threshold. This post specifically addresses taxpayers with a taxable income above the higher threshold of $207,500, for individuals, or $415,000, for joint filers.
An Overview of Qualified Business Income (QBI) Deductions; Part One
A new and important provision in the Tax Cut and Jobs Act (TCJA), enacted in December of 2017, is Section 199A, which allows deductions for qualified business income (QBI). This post is part one of a three-part series and addresses what QBI is, who may claim QBI deductions, how they may claim such deductions, and how to calculate the deduction for taxpayers below the lower threshold.
What are the Deductions for the new Tax Act?
The Tax Cuts and Jobs Act passed in 2017, and effective in 2018, provides businesses with a reduced tax rate, but also significantly alters the tax deductions businesses can claim. Some major categories of tax deductions that have been adjusted are meals, entertainment, and travel for either employees or clients
What is Slander of Credit?
The saying used to go, “A man’s only as good as his word.” However, these days, according to banks and other
What is Corporate Social Responsibility?
Corporate Social Responsibility is a private business self-regulating model that helps a company to be accountable to itself, its stakeholders, and to the public. In essence, when a company adopts CSR policies and practices, its planning and decision-making reflect the potential impact of its corporate actions on various stakeholders and constituencies.
If I use old Patent Drawings as art, does it Violate Copyright or Patent law?
Patents are a government-issued license that gives an inventor the exclusive ability, for a period of time, to make, use, or sell an invention of their creation.
How many DBA’s can a FL company have?
We’ll keep it short and simple this time. Every state has different regulations on DBA’s. For all intents and purposes, we’re
How Tax Lien works
When a person fails or neglects to pay income taxes owed, the likely consequences involve the Internal Revenue Service (IRS) placing
When a fashion model is hired to do pictures, who owns the photographs?
If you are reading this blog, you are probably facing copyright issues as either a model who feels that their copyrights
Do I have to pay Property Taxes as a Foreigner Investor?
All foreign investors owning U.S real property are responsible for paying taxes on any and all rental income they earn in the United States from that property. As a general rule, a non-US person who rents out his or her U.S. property is subject to a 30% withholding tax imposed on the gross amount of each rental payment.
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