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2019 October Tax Planning Letter

Dear Clients and Friends: With the first tax season under the Tax Cuts and Jobs Act (TCJA) behind us, we have a better understanding of the practical applications on the tax law changes. As expected, the law changes had a profound impact on many taxpayers and created new planning opportunities.

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Will You Miss These Tax Deductions?

Form 1040 has a different look this year. Thanks to the Tax Cuts and Jobs Act (TCJA), the standard deduction has essentially been doubled while certain deductions have been modified or eliminated. Due to these changes, which are generally effective for 2018 through 2025, you may be better off claiming

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Section 199A Deduction Phase-out Calculations

The Section 199A deduction phase-out calculations confuse lots of people. Below is a high-level overview of how the phase-out math works, including a quick review how the deduction works. Section 199A Deduction in a Nutshell The Section 199A deduction gives unincorporated businesses, S corporations and real estate investors a special

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