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...
by Betro and Company, PC | Mar 18, 2019 | Tax Savings
When you know the rules, you can party with your employees and deduct 100 percent of the cost. Interestingly, if you feed your employees during a training program, your deduction is only 50 percent. Make sure you know the rules that give you the 100 percent deduction...
by Betro and Company, PC | Mar 11, 2019 | Tax Savings
Premiums for Medicare health insurance can add up to a substantial sum. That’s especially true if you have a high income, and you’re married and both you and your spouse are paying premiums. Fortunately, the premiums can potentially help your tax...
