I’ve written about how the Tax Cuts and Jobs Act (now known as PL117-95) is going to change the way we think about businesses and income. (Here’s one link– there are about 15 such posts.) Today, we’ll talk about how this new tax law changes the sort of business entity we maintain.
Continue reading Business Entity- revisited for 2018 tax rules
Tick, tock. The clock is running.
The IRS believes that folks with self-employment income- those who file Schedule C with their 1040- are hiding income. How much? Enough to add $ 125 billion to the US Treasury. (Notice that is the total of the taxes due, not how much revenue is being unreported.) And, these folks are responsible for about 27% of the total taxes not being paid per the law.
Continue reading Dewey, Cheatem, and Howe?
