Sometimes, bigger isn’t better: Your small- or medium-sized business may be eligible for some tax breaks that aren’t available to larger businesses. Here are some examples. 1. QBI deduction For 2018 through 2025, the qualified business income (QBI) deduction is available to eligible individuals, trusts and estates. But it’s not available to C corporations or
qualified business income deduction Archives - Crawford Ellenbogen
Aug 10, 2022
Feb 17, 2022
Important tax aspects of operating your business as a sole proprietor
- By Joan Ellenbogen
- Business, Taxes
- 0 Comments
If you’re in business for yourself as a sole proprietor, or you’re planning to start a business, you need to know about the tax aspects of your venture. Here are eight important issues to consider: 1. You report income and expenses on Schedule C of Form 1040. The net income is taxable to you regardless
Jul 27, 2021
10 facts about the pass-through deduction for qualified business income
- By Joan Ellenbogen
- Business
- 0 Comments
Are you eligible to take the deduction for qualified business income (QBI)? Here are 10 facts about this valuable tax break, referred to as the pass-through deduction, QBI deduction or Section 199A deduction. It’s available to owners of sole proprietorships, single member limited liability companies (LLCs), partnerships and S corporations. It may also be claimed
Feb 11, 2020
Numerous tax limits affecting businesses have increased for 2020
- By Ellenbogen
- Business
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