• Treasury Department Clarifies Small Business Tax Break, Brokerage Eligibility

    10 days ago - By RIS Media

    Eight months after Congress passed a sweeping tax reform, financial advisors and tax experts are still trying to break down the new policies, particularly those that impact small business owners .
    While the corporate tax rate was slashed from 35 percent to 21 percent, the additional business income deduction of up to 20 percent introduced complex conditions that takes how a business is classified into consideration-sole proprietorship, partnership, Limited Liability Company , Single Member Limited Liability Company, C Corporation, Professional or Personal Service Corporation, or S...
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  • Who's in, out in small business tax break? It's complicated

    10 days ago - By Chron

    WASHINGTON - Architects and engineers are still in. Accountants, doctors and lawyers remain out - mostly. New rules floated by the Trump administration lay out what kinds of businesses can take a 20 percent deduction against income taxes under the new tax law.
    With the proposed rules issued Wednesday , the Treasury Department and the IRS had worked for six months to bring clarity to Congress' blueprint. But as with many aspects of the sweeping Republican tax law hustled through Congress last year, the requirements for the millions of "pass-through" businesses to score generous tax breaks...
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  • 3 Reasons Why Small Businesses Still Need a Social Media Presence

    10 days ago - By Business

    No matter what happens, it seems like the world is never short on small business optimism. The Q3 2018 Small Business Index infographic released by Wells Fargo and Gallup revealed that small business optimism is at a 15-year high. The Index score is currently at 118 points, up 12 points from April. It is now officially the highest mark since 2003 when the Index first made its debut.
    The glass is more than half full for the entrepreneurial set. Seventy-eight percent of small business owners surveyed say that their financial situation is currently very or somewhat good. Cash flow is also on...
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