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Tax Archives | Delap CPA


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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15 Nov

Partnerships Are Now Liable for U.S. Federal Income Tax

November 15, 2018 | By | No Comments

The Bipartisan Budget Act of 2015 established new rules for partnership audits and the assessment of tax. Effective for partnership returns filed for tax years beginning after December 31, 2017, the new partnership audit regime changes the way partnership adjustments are determined, and for the first time, makes a partnership liable for U.S. federal income […]

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13 Nov

Should Tax Reform Change your Home Buying Strategy?

November 13, 2018 | By | No Comments

Looking to purchase a house? Several factors require consideration, from rising interest rates to the economic climate. Have you thought about tax reform? The Tax Cuts and Jobs Act (TCJA) has changed the tax benefits of home ownership, financing and other related topics for taxpayers. Delap is here to answer the question, does tax reform […]

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