The Tax Cuts and Jobs Act was signed by President Trump on December 22. The Act makes sweeping changes to the U.S. tax code and impacts virtually every taxpayer. Individuals are more impacted by the provisions of the act than any other class of taxpayer. With the reduction in effective

Tax Solutions for S Corporations

Posted by Rochelle on December 16, 2017
An S corporation, is a pass-through entity that is treated very much like a partnership for federal income tax purposes. As a result, all income is passed through to shareholders and taxed at their individual tax rates. However, unlike a C corporation, an S corporation’s income is taxable to the
Every year clients ask me what medical expenses are deductible and how they can claim such expenses on their returns. Unfortunately, as with many tax issues, there are many matters to consider when claiming medical expenses and often the final amount that can be claimed is very disappointing, especially when
In a previous blog, the the whole idea behind medical expense deductions and when to deduct and whose expenses to include was discussed. In this article, we’ll look more closely at specifically which expenses can and cannot actually be deducted. Only about 19% of taxpayers submitting an itemized returns claimed
If you think tax planning only happens in the spring, think again. Taxes are a year-round concern and there’s no better time than the present to plan for the future. Consider the following: Fall means the end of summer and summer camp for many kids. Did you know there’s a