by Betro and Company, PC | Apr 15, 2019 | Tax Savings
Tax reform’s Section 199A deduction often confuses small-business owners and tax professionals alike. It’s quite possible you’ll get a Schedule K-1 from a business that omits the information you need to calculate your deduction. What do you do? You have a big...
by Betro and Company, PC | Apr 11, 2019 | Tax Savings
Tax reform may have you thinking of changing your S corporation to a C corporation, partnership, or sole proprietorship. With such a switch, you need to consider: How do I terminate the S corporation election correctly?What are the tax consequences to me? ...
by Betro and Company, PC | Apr 8, 2019 | Tax Savings
The Affordable Care Act’s $100-a-day penalty for improper medical reimbursements likely has your attention. And it should. But you can find many reimbursements that are allowed without penalty, including the ability to reimburse Medicare when you have fewer than 20...
by Betro and Company, PC | Apr 5, 2019 | Tax Savings
Qualified improvement property is any improvement to the interior portion of a building that is nonresidential real property (think office buildings and shopping centers) if you place the improvement in service after the date you place the building in service....
by Betro and Company, PC | Apr 1, 2019 | Tax Savings
The Tax Cuts and Jobs Act tax reform added new tax code Section 199A, which created a 20 percent tax deduction possibility for you if your rental property (a) has profits and (b) can qualify as a trade or business. As the law now stands, with rentals that achieve...
