Betro and Company, PC: Accounting Services
  • Bio
  • Accounting & Taxes
  • Advisory
  • Support
  • News
  • Location & Contact
Select Page

How to Deduct Medicare as a Business Expense

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...

How to Calculate and Improve Your QBI from a Partnership

by Betro and Company, PC | Mar 4, 2019 | Tax Savings

A general partner is taxed on partnership income that comes to him or her in the form of guaranteed payments and profit distributions. Profit distributions are qualified business income (QBI) for the Section 199A 20 percent tax deduction. Guaranteed payments and...

When the Second Office in the Home Is a Principal Place of Business

by Betro and Company, PC | Mar 1, 2019 | Tax Savings

When possible, you want to claim that your office in your home qualifies as a principal place of business because this classification gives you the home-office deduction, andeliminates commuting from your home to your regular office. Current law gives you two ways to...

IRS Updates Defined Wages for New Section 199A Tax Deductions

by Betro and Company, PC | Feb 28, 2019 | Tax Savings

Your Section 199A tax deduction will benefit from your business’s W-2 wages paid to you and your employees if you are married and filing jointly and your taxable income is over $315,000 and less than $415,000;are filing as single or head of household and your taxable...

IRS Section 199A Final Regs Shed New Light on Service Businesses

by Betro and Company, PC | Feb 25, 2019 | Tax Savings

Remember, new tax code Section 199A offers you a 20 percent tax deduction gift if you have pass-through business income (such as from a proprietorship, a partnership, or an S corporation), and2018 taxable income of $315,000 or less (married, filing jointly) or...

IRS Creates a New “Safe Harbor” for Section 199A Rental Properties

by Betro and Company, PC | Feb 18, 2019 | Tax Savings

The Section 199A 20 percent tax deduction is a gift from lawmakers—literally. You don’t earn this deduction; it’s simply there for you if you qualify.  Under the trade or business rule, your rental property profits can create the deduction. And now, under an...
« Older Entries
Next Entries »

Recent News

  • What Can I Do If My K-1 Omits 199A Information?
  • Terminating Your S Corporation Election
  • How to Reimburse Medicare When You Have Fewer Than 20 Employees
  • Improvement Property Update
  • Good News: Most Rentals Likely Qualify as Section 199A Businesses

Betro and Company, P.C.
30 Mechanic Street
Suite 3
Foxboro, MA 02035

 

Phone: (508) 698-3600
Fax: (508) 698-3601

Email: ehagg@betro.com

Hours of Operation
Monday–Friday
8:30 a.m.–5:00 p.m.

  • Bio
  • Accounting & Taxes
  • Advisory
  • Support
  • News
  • Location & Contact
© 2019 Betro and Company, P.C.
X
Keep up to date on COVID-19 information >