A primer on pass-through businesses

It is finally time to examine the standout provision of the 500+ page tax reform bill. Congress comprehensively reformed the tax regime for pass-through business, and this has generated a great deal of analysis from financial professionals tasked with understanding an incredibly complicated set of regulations. Pass-through businesses are those in which the profits and … Read more A primer on pass-through businesses

Enough individual tax law changes: what about business owners?

Our first seven posts focused on individual taxpayers, and what they must know as tax laws change over the next three years. Now, we turn our attention to business owners. Congress made smaller adjustments to several regulations, but one of the most newsworthy changes involves pass-through business. These are businesses that do not pay corporate … Read more Enough individual tax law changes: what about business owners?

Tax reform quick hits

This week we will cover a few more headline-grabbing changes for individuals from the tax reform package. First, Congress eliminated the Obamacare coverage mandate, and there will be no penalty starting 2019. Unfortunately for those looking forward to immediate savings, this does not apply yet—without a waiver or exemption, taxpayers still need health insurance until December … Read more Tax reform quick hits

What do families need to know about tax reform?

Last week we outlined some changes affecting individual taxpayers, including adjustments to tax rates and brackets. This week we want to draw your attention to a few more parts of the tax reform bill that will impact many individuals and families. This bill encourages a broad shift from itemized deductions to a new, larger standard … Read more What do families need to know about tax reform?

How will tax reform affect you?

Welcome to the WelchCounsel Blog. We are glad you stopped by and hope you will make your visits regular. This introductory post on the Tax Cuts and Jobs Act of 2017 is the first in a series covering the current Republican tax overhaul. Congressman Kevin Brady (R, TX) introduced the legislation in the House of … Read more How will tax reform affect you?