by O'Connor & Drew, P.C. | Mar 4, 2019 | Tax
TAX Some of Your Deductions May Be Smaller (or Nonexistent) When You File Your 2018 Tax Return 4 March 2019 While the Tax Cuts and Jobs Act (TCJA) reduces most income tax rates and expands some tax breaks, it limits or eliminates several itemized deductions that have...
by O'Connor & Drew, P.C. | Feb 26, 2019 | Tax
TAX 2017 Tax Filing Deadline for Pass-Through Entities is March 15 26 February 2019 Shakespeare’s words don’t apply just to Julius Caesar; they also apply to calendar-year partnerships, S corporations and limited liability companies (LLCs) treated as partnerships or S...
by O'Connor & Drew, P.C. | Feb 12, 2019 | Tax
TAX Fundamental Tax Truths for C Corporations 12 February 2019 The flat 21% federal income tax rate for C corporations under the Tax Cuts and Jobs Act (TCJA) has been great news for these entities and their owners. But some fundamental tax truths for C corporations...
by O'Connor & Drew | Jan 14, 2019 | Tax
TAX A Refresher on Major Tax Law Changes for Small-Business Owners 14 January 2018 The holidays have come and gone and the new year is upon us which means that the 2018 income tax filing season is here. After year end, it’s generally too late to take action to reduce...
by O'Connor & Drew | Oct 16, 2018 | Tax
TAX 529 Plans Offer Two Tax-Advantaged Education Funding Options 16 October 2018 Section 529 plans are a popular education-funding tool because of tax and other benefits. Two types are available: 1) prepaid tuition plans, and 2) savings plans. And one of these plans...
by O'Connor & Drew | Oct 10, 2018 | Tax
TAX Assessing the S Corp 10 September 2018 The S corporation business structure offers many advantages, including limited liability for owners and no double taxation (at least at the federal level). But not all businesses are eligible – and, with the new 21%...
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