To maintain the incentive for individuals to own and operate a pass-through entity, the Act introduced the new Section 199A Qualified Business Income Deduction.
LBMC wealth advisors provide affluent families and individuals coordinated tax preparation, retirement planning, estate and wealth transfer services. Read on.
Planning and discipline provides peace of mind at tax time… Read more »
Do you know the state income tax implications of the… Read more »
The 2018 Tax Cuts & Jobs Act ushered in quite… Read more »
A surviving spouse will have many tax-related issues to deal… Read more »
The IRS is reminding taxpayers to be prepared for hurricanes and other natural disasters this season. This article highlights some important tips.
Our tax alerts are high-level communications and should not be considered as legal or actionable tax advice. Please contact us with any questions you have.
If you are installing renewable energy systems in your primary or other residences, you may be eligible for a valuable tax break. If your home improvements qualify, the Nonbusiness Energy Tax Credit can reduce your federal tax bill.
As the law currently stands, taxpayers have now through 2025 to take advantage of the increased estate and gift tax lifetime exemption assuming no intervening legislative changes.
With good planning and communication, many tax-advantageous opportunities are out there for individuals to maximize the assets they wish donate to charity while retaining the tax benefit.