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

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

CPI and Chained CPI: What’s the difference?

This week we will take a break from lists of deductions to break down a specific concept: chained CPI. Many readers and taxpayers will be familiar with the Consumer Price Index, or CPI. The CPI is a measure of inflation that watches price changes in a set “basket of goods” over time. As a gallon … Read more

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

The tax reform timeline

As promised in our first post about tax reform, we begin by examining the timeline of changes established by the tax reform bill. Taxpayers will notice most changes in 2019, as the legislation only fully affects taxes beginning this year. However, a few provisions are already in place or do apply to 2017: smart consumers can … Read more