What You Should Know About Qualified Business Income

What You Should Know About Qualified Business Income

The new Tax Cuts and Jobs Act (TCJA) went into effect on December 22, 2017. With it came reduced rates and lots of changes to the tax code. One of the new rewrites includes Sec. 199A, which allows business owners a 20% deduction on qualified business income (QBI)...
5 Things to Know About Tax Deductible Donations

5 Things to Know About Tax Deductible Donations

The Tax Cuts and Jobs Act went into effect in December 2017 and with it came many changes to individual income taxes. The standard deduction nearly doubled, income tax rates were reduced, and there are new limits as to what you can deduct, including charitable...