One provision that generates lots of attention is the 20% Qualified Business Income (QBI) deduction for small businesses. A huge area of uncertainty is whether a residential rental activity qualifies for the deduction because it may not pass the threshold of being an active trade or business. Recent guidance provides...
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Unfortunately, as of this writing, there is no new tax law to discuss. While both the House and Senate versions have some interesting proposals, until something is signed into law, it’s difficult to plan for all the possible outcomes of the proposals. That said, here are some strategies that are...
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Year End Planning for Businesses With the election season coming to a close on November 8, we should have more clarity on the direction of tax policy in future years as we head into year-end planning season. With extreme differences in the tax positions of each of the major party...
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