Especially when one is self-employed in a business, getting a notice of a proposed adjustment to taxes can mean a lot more than just having to come up with some extra money to pay the IRS, or the state taxing authorities, for back taxes.Indeed, sometimes these...
How the TCJA affected self-employment taxes
If you started a business in 2019, you probably heard that you wouldn't get many tax breaks because of the 2017 Tax Cuts and Jobs Act. While some self-employment deductions have gone away, some only temporarily, you still have others you can take advantage of when you...
Using an LLC as an estate planning device
When people think of setting up a limited liability corporation, or LLC, it is usually for business reasons. For example, a businessperson may like the idea of having some degree of legal protection like what an LLC offers. Moreover, an LLC also offers important tax...
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