by Joan Buchman Miller | Aug 2, 2021 | Accounting, LLC
Perhaps you operate your small business as a sole proprietorship and want to form a limited liability company (LLC) to protect your assets. Or maybe you are launching a new business and want to know your options for setting it up. Here are the basics of operating as... 
by Joan Buchman Miller | Jul 17, 2021 | income tax, LLC, S Corporation, tax planning
Are you eligible to take the deduction for qualified business income (QBI)? It’s available to owners of sole proprietorships, single member limited liability companies (LLCs), partnerships and S corporations. It may also be claimed by trusts and estates. The deduction... 
by Joan Buchman Miller | Nov 26, 2018 | income tax, LLC, S Corporation, tax planning
Business tax planning is the TCJA environment is very important. The Tax Cuts and Jobs Act (TCJA) enacted in December 2017 made many changes to business and individual taxes. This week we are discussing some to the major changes to business taxes. Next week we will... 
by Joan Buchman Miller | Nov 5, 2018 | income tax, LLC, S Corporation
IRS explains 20% deduction for qualified business income. The IRS has issued regulations on the new 20% deduction for qualified business income (QBI) created by the TCJA, also known as the pass-through deduction. Here’s a summary of the basic rules: For tax... 
by Joan Buchman Miller | Mar 13, 2017 | income tax, LLC, tax planning
The LLC is becoming a popular entity structure. Today we discuss some of the major reasons it might be appropriate for a business to operate as a limited liability company. A limited liability company (LLC) is somewhat of a hybrid entity in that it can be structured...