3 Big TCJA Changes Affecting 2018 Individual Tax Returns and Beyond
When you file your 2018 income tax return, in addition to the much-discussed tax rate cuts and reduced itemized deductions, you’ll probably find some big tax law changes that affect you. For 2018 through 2025, the Tax Cuts and Jobs Act (TCJA) has made significant changes to personal exemptions, standard deductions, and the child credit. […]
When Are LLC Members Subject to Self-Employment Tax?
Limited liability company (LLC) members commonly claim that their distributive shares of LLC income (after deducting compensation for services in the form of guaranteed payments) aren’t subject to self-employment (SE) tax. But the IRS has been cracking down on LLC members it claims have underreported SE income, with some success in court. SE tax background […]
