This is one of those hidden gems. One I missed when I read the Tax Cuts and Jobs Act. (Now you know why my monograph on the law hasn’t been published yet. I’m still re-reading the verbiage to see if there are other “gems” (a.k.a. fecal deposits) hidden between the lines.)
Continue reading @#%$ ME!!!!!!!
I’ve written about how the Tax Cuts and Jobs Act (now known as PL117-95) is going to change the way we think about businesses and income. (Here’s one link– there are about 15 such posts.) Today, we’ll talk about how this new tax law changes the sort of business entity we maintain.
Continue reading Business Entity- revisited for 2018 tax rules
Slowly, but surely, the understaffed and overtaxed Internal Revenue Service is producing guidelines that will help us help you to understand how they plan to regulate the changes that the Tax Cuts & Jobs Act (PL117-95)- and the budget resolutions of February 2018 (I have a blog post describing these coming soon)- have brought.
Continue reading Can I still deduct my HELOC?
In business- if you fail to plan, you plan to fail. In these cases, if you fail to plan, other people get to make your decisions. If you are alive and ill, then it’s terrible. If you are not, then your heirs may recall things with more than a bitter taste in their mouths. Consider them, prepare your choices, and act.
Continue reading The third leg
Yesterday, we spoke about advanced medical directives (living wills).
Continue reading If there isn’t a Will, there’s usually NOT a way!
I know it’s Valentine’s Day. (This is about helping our loved ones [and ourselves], I promise.)
I’m going to share some information with you (and provide some directed actions) that will simply be rated M for mature. (No, no porn here- that’s the province of Stormy Daniels, not me.) And, it’s not only for our senior citizens (like me)- it certainly applies to everyone who has a family. Because we never know.
Continue reading Sometimes, we just have to do this
I admit it. We’re in trouble.
Now that I’m saying that- you are in trouble, too. As a matter of fact, every business, every entrepreneur, every solopreneur is in trouble.
Continue reading This was a 22 Skidoo!
I told you that the Tax Cut and Jobs Act (sic) was partly created (or maneuvered) as political retribution by the GOP against those states that don’t vote their way. (Here’s but one example.) Which was the driving force behind the plot to outlaw State and Local Tax (SALT) deductions of $ 10,001 or more. Which would allow the U.S. Treasury collect some $ 650 billion more over the 8 years that this restriction is in effect. (The personal tax rate changes under this Act expire in 2026.)
Continue reading Point/Counterpoint
By now, you may have been contacted by your employer to change your federal and state exemptions. Both because it’s a new year- and because of the tax law that was enacted last year. Normally, you can follow the instructions that you are provided. (But NEVER choose 9 or more exemptions- even if you think that makes sense, because that sets off alarms with every tax agency. I’m not saying you are wrong- I am just saying, why bring on the aggravation.)
Continue reading The new tax law has hidden surprises
This is but a continuation of our discussion of the changed IRS code, as a result of passing a version of HR-1. The series started last Wednesday or Thursday, where we discussed personal tax provisions of the law. Yesterday, we started on the business taxes. We will continue today- and finish tomorrow.
Continue reading PL 115-97, Business Taxes, Part 2
