Tag Archives: Sole proprietor
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
Advantages and Disadvantages of a Sole Proprietorship
There are many types of business structures you can choose, being a sole proprietor is the most common. My cleaning company is a sole proprietorship. This post contains affiliate links The biggest advantage of a sole proprietor filing is that … Continue reading
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
