Small businesses waiting anxiously for details on the new pass-through tax deduction are finally getting some answers from the IRS. The Internal Revenue Service released a 184-page document on proposed regulations that include income limits, qualified business categories, and strategies that won’t be allowed to “game” the system.
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New tax rule affect real estate investors and anyone who’s married with a prenup
New tax reform has prompted an effort by lawmakers in some states to come up with workarounds, but the IRS is saying “no way.”
For most people, 2017 taxes have been filed away, and now it’s time to focus on 2018. And for business owners, this means it’s also time to figure out how to pay your quarterlies. That hasn’t been the easiest thing to figure out, given the many changes to the tax law.
A few glitches can be expected with such a massive piece of legislation, but some say there are an unusually high number of errors this time…