Tag Archives: 1040
QBI for Sole Proprietors
One of the changes of the Tax Cuts and Jobs Act (TCJA) is the creation of the Qualified Business Deduction (QBI). This post will give you a general idea on how to calculate for yourself, but if you want to … Continue reading
Posted in Accounting, Tax
Tagged 1040, Entrepreneurship, Schedule C, Sole proprietor, Tax
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Business Taxes Under the Tax Cuts and Jobs Act
The biggest changes in the new law are a permanent flat 21% corporate tax rate and a qualified business income credit for pass-through entities thru 2025. In prior years, corporations paid a graduated 15-35% and personal service corporations, like my CPA … Continue reading
Posted in Tax
Tagged 1040, 1065, 1120-S, 2018 Taxes, S-Corp, Sole proprietor
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