tax

Some great lines from the 1980 movie Popeye with some of my favorite actors, Robin Williams and Shelley Duvall

The Tax Man:
You just docked?

Popeye:
I has.

The Tax Man:
Ah ha, let’s see here, that’ll be 25¢ docking tax.

Popeye:
What for?

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The 2018 tax reform known as the Tax Cuts and Jobs Act (TCJA) allows for a new 20 percent deduction on certain business income, known as the Section 199A deduction. One should have the right type of business and the right taxable income.

In our past blog article Christmas Came Early In 2018, we discussed different choices in conducting business when it came to taxation and the new tax legislation in great detail. We also explained the differences in taxation of each business entity structure, and if you have been paying attention, you will recall that the S corporation is a pass-through entity which is typically a great choice for most small business owners.

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Great works are performed not by strength but by perseverance.
~ Samuel Johnson

This week we complete our series on the value-added tax planning services which are perfectly suited to do during the off-season months.

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Fearlessness is the gateway to success. One should therefore shun all kinds of fear.
~ Rig Veda

Last time we covered a general list of activities your tax specialist does year round, and we promised you more detailed information on items that may be of interest to you. As always, please don’t hesitate to speak with us if you have any questions about your specific individual or business tax situation.

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Now that the dreaded tax season is behind us, and the tax returns have been filed, most of us will try to avoid a visit to the CPA’s office. And what does happen during the tax superman”off” months? Does your accountant put away the calculator and head to the beach? The summertime is almost here, and we are ready to help you with off-season work.

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