by Matt Engelmann | Oct 14, 2018 | Uncategorized
If at all possible, you want to qualify for the 20 percent tax deduction offered by new tax code Section 199A to proprietorships, partnerships, and S corporations (pass-through entities). Basic Rules—Below the Threshold If your taxable income is equal to or below the...
by Matt Engelmann | Oct 10, 2018 | Uncategorized
If you operate an out-of-favor business (known in the law as a “specified service trade or business”) and your taxable income is more than $207,500 (single) or $415,000 (married, filing jointly), your Section 199A deduction is easy to compute. It’s zero. This...
by Matt Engelmann | Sep 27, 2017 | Uncategorized
New Minnesota 529 College Savings Credit -Deduction Are you saving or thinking about saving money for college in a 529 college savings plan? Good news, the state of Minnesota passed legislation in the summer of 2017 to give you an additional incentive to contribute to...
by Matt Engelmann | Jun 4, 2017 | Uncategorized
Creating a Very Basic Business Plan You can certainly create an expanded business plan using an almost unlimited amount of free templates online, however, here is a very simple outline of some questions you need to be able to answer: Who will I be marketing to and...
by Matt Engelmann | Jun 4, 2017 | Uncategorized
Tracking Your Expenses Quickly – Part II The first blog post, Tracking Your Expenses Quickly – Part I, discussed how to quickly store your receipts online using an app. Part II, this post, discusses how to track your expenses. This is important for two reasons:...
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