The tax law is continuously changing from the acts of our government, to the decisions by the Tax Court and Federal courts, and through notices and private letter rulings from the IRS. In addition to changes, other topics of interest pop up in various trade journals such as Journal of Accountancy, Tax Adviser and Kiplinger’s Tax Letter. As we discover other issues concerning LLCs, S Corporations and self-employment taxes, we want to get the word out right away.
More importantly, the frequent business consultations we perform and the questions we field provide a steady stream of new ideas that are worthy of being wormed into this book. So here’s to you- the curious small business owner helping others.
Currently this book is our 2019 Edition primarily due to the Tax Cuts & Jobs Act of 2017, and specifically the Section 199A Qualified Business Income deduction. This is a major departure from the way things used to be. However, two things remain critically important- S corporations remain a viable tool for reducing self-employment taxes and the Section 199A deduction is simply an add-on component to the S Corp advantages.
We encourage you to visit our website for information on updates-
In addition, please check out our blog from time to time for discussion of current tax issues-
Taxpayer's Comprehensive Guide to LLCs and S Corps : 2019 Edition