Taxpayers can expect to receive additional guidance on various tax reform provisions this summer. Read on to learn which ones.
Author: Christopher Axene
Chris Axene, a principal and regional tax expert at Rea, joins us on part two of our Tax Cuts and Jobs Act mini-series on unsuitable on Rea Radio to talk talk about changes that will affect the owners of C corps and flow-through entities, and whether or not business owners should reconsider their choice of entity. Listen now!
From new corporate tax rates to the bonus depreciation and net operating loss provisions to a variety of changes poised to hit companies that do business overseas (and everything in between), the Tax Cuts and Jobs Act is full of savings opportunities for business owners. Listen to this episode to find out what you should expect as a result of this new tax reform legislation.
This particular flow-through provision was ultimately added to the Tax and Jobs Act as a way to help mitigate the fact that, while C corps were given substantially reduced tax rates, the individual tax rates were only reduced by about two or three percent. Read on to learn more.
With the 2018 C Corp tax rate now at 21 percent (in addition to the lack of a state income tax in Ohio on C Corporations) you may be flirting with the idea of converting your existing flow-through entity to a C Corp. Read on to find out if that option is right for you.
Looking for some critical tax planning advice that you can put in action now in preparation for next year’s tax return? Chris Axene, a principal in Rea’s Dublin office, is happy to oblige. On this episode of unsuitable on Rea Radio, Chris talks about business tax rates, business entity choices and how one ultimately impacts … Continued
Gremlins aren’t always confined to their movies. For example, terrible misfortune can also occur when an entity’s independent contractor agreements are exposed to the “bright light” of IRS scrutiny.
Significant policy changes are often expected with a change in presidential administration – especially if the other political party is elected into power. However, new tax policy proposals are rarely enacted into law in their proposed form. This year is not anticipated to be any different, but it’s unclear whether or not the tax reform … Continued
By now you’ve heard that last minute actions by Congress and the President pulled us off the brink of the fiscal cliff. But, do you know what the American Taxpayer Relief Act means for you and your business? Overall, the deal is good news for most Americans. While it’s true that the tax rates for … Continued
As you send your children off to college and pay the bills for their tuition, fees and other expenses, do you know what type of educational benefits are available at the federal level to help with these costs? The three main types are credits, deductions and savings plans. Respectively, these benefits can reduce the amount … Continued