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Deducting Qualified Business Income

The TCJA created a new deduction for small business owners who operate pass-through entities. That includes domestic companies operated as sole proprietorships or through S corporations, partnerships, certain LLCs,...

Handling Qualified Charitable Distributions

As the filing season for 2018 tax returns reaches a peak, many people will learn that they’re no longer itemizing deductions. The TCJA placed limits on some deductions and increased the standard deduction...

Tax Implications on Cryptocurrency and Blockchain

Overview Cryptocurrency and blockchain are rapidly becoming a part of the U.S. landscape, but knowledge varies greatly on these topics and their applications. Below we will define what cryptocurrency and blockchain...

Powers of Attorney Can Be Vital Documents

Most people realize the importance of a will to help direct the transfer of assets after death. During your lifetime, you also may want to have a power of attorney (POA) for convenience and asset protection. The...

Throwing SALT into the Property Tax Wound

The Tax Cuts and Jobs Act (TCJA) of 2017 sharply raised the standard deduction and placed limits on itemized deductions. In particular, no more than $10,000 can be deducted in state and local tax (SALT) payments on a...

Standard or Itemized Deduction - Which Shall it Be?

Under the new, as well as prior, tax law, taxpayers can either take a standard deduction or itemize deductions on Schedule A of IRS Form 1040. Typically, tax preparation involves comparing the total of itemized...

Qualified Tax Opportunity Zones

On October 22, 2018, the IRS issued proposed regulations relating to the deferral of gain under IRC §1400Z-2 for investments in qualified opportunity zones ("QOZ"). The provision allows taxpayers to elect to defer...

Rising Interest Rates Worry Fixed Income Investors

Just as volatility and high prices might make some investors leery of stocks now (see “Buy-write strategies for a flat market”), the threat of rising interest rates may worry fixed income investors. Rising rates...

Fluctuating Stock Market Heralds Covered Calls

Up one month, down the next. The stock market this year has offered lots of excitement. As of this writing, broad market indexes have provided little sustenance for bulls or bears, with results not far from early...

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