FINRA's BrokerCheck

Tax

Tuesday, 02 April 2019

Small business healthcare tax credit form available now

Written by Thomson Reuters

In very late January, the IRS released the 2018 Form 8941, to be used by eligible small employers to calculate their health care tax credits. If you may qualify for this potentially valuable tax break, ask your tax preparer about claiming the credit on your 2018 return or filing an amended return if you’ve already filed. Background on the credit The small business health care tax credit generally is available to employers that: Have fewer than 25 employees, Pay average annual wages of less than $50,000 (indexed), and Contribute a uniform percentage of at least 50% of the premium costs for employee health insurance coverage obtained through a Small Business Health Options Program (SHOP), unless an exception applies. The maximum tax credit is generally 50% of employer-paid premiums (35% for tax-exempt eligible small employers) and can be taken for only two tax years, which must be consecutive...

Tuesday, 02 April 2019

Narrow networks: A perhaps overlooked model for savings and quality

Written by Thomson Reuters

“If you like your doctor, you can keep your doctor.” President Obama made this controversial and widely quoted statement about a decade ago while he was promoting the Affordable Care Act (ACA) before its enactment. The quote recognizes that most people prefer to choose their own physicians. But health care market dynamics, even before passage of the ACA, were already driving employers to incentivize employees to choose providers that satisfied “preferred provider” criteria — even if doing so meant they’d have to drop their old doctors...

Wednesday, 20 March 2019

Nine things a business owner should know after tax reform

Written by Forefield Inc.

As a business owner, you should be aware of some recent federal tax legislation changes. Many of the changes can affect the bottom line for the business as well as you as the business owner — some in a good way and some in a bad way. The taxable income of a C-corporation is now taxed at a flat 21 percent rate. Previously, the tax rates generally ranged from 15 percent to 35 percent (but some income was taxed as high as 39 percent)...

Wednesday, 06 March 2019

Weigh the tax impact of income vs. growth when investing

Written by Thomson Reuters

As the 2018 tax-filing season heats up, investors have much to consider. Whether you structured your portfolio to emphasize income over growth — or vice versa, or perhaps a balance of the two — will have a substantial impact on your tax liability. Let’s take a look at a couple of the most significant “big picture” issues that affect income vs. growth...

Tuesday, 19 February 2019

The amount of your tax refund does not tell the whole story

Written by The Rehmann Team

Many taxpayers are receiving lower tax refunds on their 2018 income tax returns and are incorrectly assuming that Tax Cuts and Jobs Act (TCJA) did not benefit them. There exists a lot of misinformation and misunderstanding concerning the TCJA. The TCJA reduced individual tax rates and brackets beginning in 2018. The IRS also modified the federal income tax payroll withholding tables to reduce the amount of federal income tax withheld from paychecks...

Thursday, 14 February 2019

Final pass-through regulations leaves some uncertainty

Written by Anthony Licavoli

On January 18, the IRS released final regulations related to the 199A pass-through deduction. Although many open items were addressed throughout the 247 pages, the IRS made it clear they were not going to provide bright-line tests for several of the most significant areas related to the deduction. The phrase “facts and circumstances” was used over twenty times in the final regulations and preamble, meaning for many taxpayers, determining the impact on their business can only be achieved by examining their specific fact patterns. Although this approach generally requires more analysis, it also can provide many planning opportunities to maximize the deduction...

Friday, 01 February 2019

Safe harbor arrives for real estate investors

Written by Andrew Rose, CPA

The IRS released Notice 2019-07, which offers taxpayers much needed guidance about section 199A as it relates to real estate ownership and income. If a taxpayer can satisfy all the requirements of this safe harbor, then they will qualify for the new 199A deduction. It is important to note that just because a taxpayer cannot satisfy the safe harbor requirements that real estate activities will not qualify as a trade or business. It will be based on facts and circumstances if outside the safe harbor...

Friday, 25 January 2019

Specified service business limitation

Written by Anthony Licavoli

One of the first steps when calculating any potential pass-through deduction is to determine if your business is a qualified business. A qualified business generally includes any business that was not specifically listed as a “specified service trade or business” (SSTB) or those performing services as an employee. What is an SSTB? SSTBs were designated as any business that performs services in the fields of health, law, accounting, actuarial science, performing arts, consulting, athletics, financial services, brokerage services, or any trade or business where the principal asset of such trade or business is the reputation or skill of one or more of its employees or owners...

Friday, 25 January 2019

Aggregation and maximizing your “pass-through” deduction

Written by Anthony Licavoli

In the simplest form of the “Section 199A” or “pass-through” deduction, owners of pass-through entities reporting $315,000 or less in total taxable income on their 1040s ($157,500 for single filers) can deduct up to 20 percent of their pass-through income from their taxes. Owners who make more may still be able to take a deduction, if they satisfy the law’s tests and limitations. However, those tests and limitations can make life complicated for owners of multiple pass-through businesses who exceed the individual taxable income limits. Thankfully, recent guidance from the IRS allows owners of multiple pass-through entities to aggregate qualifying businesses together for the purposes of calculating the various limitations...

Friday, 25 January 2019

Navigating the various limitations for the “pass-through” tax deduction

Written by Anthony Licavoli

Owners of pass-through entities reporting less than $315,000 in total taxable income on their 1040s ($157,500 for single filers) can generally deduct 20 percent of qualified pass-through income from their taxes with no additional analysis required. Once a taxpayer’s taxable income reaches $315,000 ($157,500 for single filers) certain restrictions and limitations begin to phase-in which could potentially reduce or eliminate the deduction all together. W-2 and qualified property based limitations For qualified business owners subject to the limitations, the pass-through deduction is limited to the greater of: The owner’s share of 50 percent of W-2 wages paid by the employer during the year or The sum of the owner’s share of 25 percent of such W-2 wages plus the owner’s share of 2.5 percent of the unadjusted basis immediately upon acquisition of qualified property W-2 wages generally include all taxable wages paid by the business plus contributions to retirement plans...

Page 2 of 23

Meet The Rehmann Team

Start typing a name ...
Searching for "{{nameQuery}}"...
Start typing a experience ...
Searching for "{{experienceQuery}}"...
Start typing a location ...
Searching for "{{locationQuery}}"...
Or view a list of team members