…the 1.45% Medicare payroll tax on wages paid to, workers on coronavirus sick or family leave. TAX CREDITS FOR SELF-EMPLOYED ANALYSIS Self-employed people are not left out in the cold. They receive refundable tax credits against the self-employment tax that are similar to those allowed for employers. The sick leave credit is based on a self-employed person’s “qualified sick leave…
What the SECURE Act Means for Small Business Owners In this episode of Coffee with Carl, attorney Carl Zoellner provides an overview of the SECURE Act and its major features as they relate to small businesses and employees. Updated January 26, 2021 The SECURE Act, which stands for the Setting Every Community Up for Retirement Enhancement Act, was passed in…
…incentive plans and credits you can take advantage of. For instance, the CARES Act (in addition to facilitating such measures as the stimulus check deposits) offers many tax relief options. You can learn more about them by browsing through in the latest IRS publication or consulting a tax professional. But even generally speaking outside of pandemic-related tax legislation, tax considerations,…
…for minimizing taxes on your property investments. Frequently Asked Questions About Capital Gains Tax Can capital gains tax be deferred? How capital gains tax is calculated What capital gains tax will I pay? Can capital gains tax be avoided? Other methods of avoiding capital gains tax Will Trump’s tax plan change the current tax code? How an advisor can help…
…Recent changes to the tax laws—such as The Tax Cuts and Jobs Act of December 2017—favor corporations with a flat tax rate of 21% instead of relying on an income-based table. This means that individuals seeing substantial income from their small business might be taxed more if they let the taxes pass through to their personal tax forms—so by structuring…
