June 2019
ACA Open Enrollment Period Begins
Open enrollment season on www.healthcare.gov has begun and lasts through December 15. Although 2019 will be the first year that those without coverage are not penalized, it is of course a very good financial [...]
Advantages of an LLC Over an S Corporation
Corporations electing subchapter S tax treatment were originally designed to pass corporate income, losses, deductions, and credits through to the owners of small corporations. S corporations must limit the number of shareholders to 100 [...]
IRS Issues Regulations On New Pass-Through Business Deduction
The IRS has issued 128 pages of proposed regulations clarifying the application of the new 20% pass-through income deduction. The main takeaway is that the regulations are quite pro-taxpayer. For instance, the law states [...]
SC Exceptional Needs Tax Credit Available for Limited Time
The South Carolina educational tax credit for exceptional needs children is rather unique. It is a credit that a taxpayer may purchase (via donation) and receive a dollar-for-dollar reduction in South Carolina income tax [...]
Tax Reform Impact – Moving Expenses
In our continuing series on major provisions of the new tax law, today we focus on the deductibility of moving expenses. It's pretty simple really. Under the prior law, all moving expenses were deductible [...]
Tax Reform Impact – Employee Business Expenses
The tax reform bill that takes effect in 2018 contains significant provisions that impact nearly all of our clients. One such provision is that affecting the deductibility of unreimbursed employee business expenses such as [...]