by Lori Morales | Sep 18, 2018 | Insights
On December 22, 2017, the Tax Cuts and Jobs Act was signed into law and Internal Revenue Code Section 199A “Qualified Business Income” was created. In its simplest terms, Section 199A allows owners of sole proprietorships, S-corporations, or partnerships to take a 20%...
by Lori Morales | Sep 5, 2018 | Insights
Under the new tax law enacted at the end of last year (Tax Reform and Jobs Act, Dec. 22, 2017), one of the provisions geared to the individual taxpayer was the ability for owners of a sole proprietorship, S-corporation, or partnership to receive a 20% deduction for...
by Lori Morales | Aug 13, 2018 | Insights
The Tax Cuts and Jobs Act of 2017 contained a new provision allowing many owners of sole proprietorships, partnerships, trusts, and S-corporations to deduct 20% of their qualified business income. On Wednesday, August 8, 2018, the IRS announced they have issued the...
by Lori Morales | Nov 1, 2017 | Insights
Introduction: When confronted with a disaster, such as we just experienced with Hurricane Harvey, the generosity of the human spirit becomes apparent as we all ask “What can I do to help?” For many of you, the answer will come in the form of setting up an online fund...
by Lori Morales | Jul 11, 2014 | Insights
What is it?A like-kind exchange, also known as a 1031 Exchange because it is governed by Internal Revenue Code Section 1031, is an often overlooked tax benefit that allows a taxpayer to postpone the recognition of gain on the sale of property when the proceeds from...
