General News

Tax Reform: Temporary vs. Permanent?

Tax Reform: Which Changes Are Temporary vs. Permanent? The Tax Cuts and Jobs Act (TCJA) includes a bevy of important tax changes for individuals and businesses. However, it’s sometimes hard to keep track of which changes are permanent and which are scheduled to expire at the end of 2025 — unless Congress extends them. Here’s…

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Coming Soon! Manufacturing Survey

Coming Soon! Manufacturing Survey With 2019 just a few months away, we am reaching out to ask for your participation in our annual Brady Ware-LEA Global National Manufacturing Outlook Survey. This project is part of our efforts to serve you as a true strategic business advisor. Your participation will help us help you. This survey…

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Wage Limitations on the QBI Deduction

Calculating W-2 Wages for Limitations on the QBI Deduction Recently proposed IRS regulations on the new deduction for qualified business income (QBI) provide guidance on how to compute limitations on the deduction based on W-2 wages. As you’ve probably heard, the QBI deduction is complicated, and numerous rules and restrictions apply. Important note: While new…

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Service Business Income and QBI Deduction

When Is Service Business Income Eligible for the New QBI Deduction? The IRS has issued much-anticipated regulations addressing the new deduction of up to 20% of qualified business income (QBI) from pass-through entities. The QBI deduction was a major piece of the Tax Cuts and Jobs Act that was signed into law in December 2017….

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IRS Guidance on QBI Deduction Rules

IRS Issues Proposed Guidance on Complicated QBI Deduction Rules The IRS has finally issued eagerly awaited regulations addressing the new deduction for up to 20% of qualified business income (QBI) from pass-through entities. The QBI deduction was a major piece of the Tax Cuts and Jobs Act, which was signed into law last December. The…

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