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The 2017 tax reform introduced a deduction equal to 20% of qualified business income from pass-through entities, subject to various limitations. Proposed regulations issued on August 16, 2018 clarify the government’s current view of these rules. READ MORE
Tax Reform on Choice of Business Entity, summarizes considerations in choosing whether to continue being an S corporation or convert to a C corporation. In most cases, exit planning suggests remaining an S corporation. However, in some cases, one may decide to convert to being a C corporation. READ MORE
Here we examine why the U.S. Tax Court rejected a financial consultant’s efforts to shift income to an S corporation to save self-employment tax, and how another approach may have been more successful in avoiding SE tax. READ MORE
Self-employment (SE) tax is one of the driving forces when a tax advisor recommends what type of entity to use for one’s business. READ MORE
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