Author: Sean Hauenstein
As the saying goes, “Make hay while the sun shines,” and 2024 promises to be about as sunny as it gets from a tax perspective. As the sun begins to set on 2024, let’s look at just a few of the many opportunities for business owners to do some year-end...
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The Tax Cuts and Jobs Act has changed the rules for home interest. Under the old law, taxpayers could deduct interest on home acquisition debt with principal balances up to $1 million. Acquisition debt is indebtedness used to acquire, construct, or substantially improve a qualified residence. Interest paid on the...
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The new tax law made several changes to business taxes that an analysis of entity selection may be appropriate. The new tax rate for a C corporation is a flat 21%. For a pass-through entity (S corporations and partnerships) and sole proprietorships, the income is taxed on the owner’s personal...
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