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Tax Archives | Delap CPA


31 Dec

New Rules on Interest Expense Deduction and Depreciation for Auto Dealers

December 31, 2018 | By | No Comments

The Tax Cuts and Jobs Act of 2017 (TCJA) was beneficial to taxpayers in many ways. One would hope so considering the name of the Act. However, there were a few aspects of the TCJA that were unfavorable from the taxpayer’s standpoint. Here we will look at just one of those unfavorable provisions in relation […]

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18 Dec

199A: Passthrough Deduction Provides Ample Opportunity for Tax Planning

December 18, 2018 | By | No Comments

One of the more publicized changes under The Tax Cuts and Jobs Act (TCJA) is the Section 199A deduction – commonly known as the Qualified Business Income Deduction.  This deduction was designed to keep the tax rate on passthrough entity income competitive with the new lower corporate tax rate of 21% by providing a deduction […]

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17 Dec

Partnerships: What to do Before you File!

December 17, 2018 | By | No Comments

On December 13th Delap hosted a webinar on the new partnership audit rules. If you missed the live webinar you’ll find the link to the recording below.  As a follow-up to the webinar, the team at Delap wanted to outline some of the action items needed by partnerships before filing your 2018 partnership tax returns. […]

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30 Nov

Passthrough Deduction for Advertisers, Marketing and Creative Agencies

November 30, 2018 | By | No Comments

  One of the best opportunities in the new tax law for business owners in the creative and advertising industry is the new passthrough deduction. Called the 199A deduction, this new law allows business owners a deduction equal to 20% of qualified business income passed through to them from sole proprietorships, single-member LLCs, partnerships, and […]

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27 Nov

C Corporation to S Corporation: Why the Hype?

November 27, 2018 | By | No Comments

Note: This article, originally posted March 2, 2017, has been updated as of November 27, 2018, by Benjamin Miller to reflect current rates and to consider the impact of 2018 tax reform. If you are the owner of a closely held C corporation, chances are your accountant has mentioned something to you about converting to […]

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