The qualified business income (QBI) deduction, authorized by the Tax Cuts and Jobs Act (TCJA), is available to owners of pass-through entities — such as S corporations, partnerships and limited liability companies (LLCs) — as well as self-employed individuals. This article highlights how the QBI...

If a small business is operated as a sole proprietorship, the owner may have thought about forming a limited liability company (LLC) to protect his or her assets. Or, if the owner is launching a new business, he or she may want to know what...

Business owners sometimes decide to put their companies on the market. When doing so, they may focus on the federal tax implications of a sale. But there will be state tax implications, too. This brief article touches on some key issues regarding state taxes....

Owners of closely held corporations often want or need to withdraw cash from the business. The simplest way is to distribute the money as a dividend, but that isn’t tax-efficient. This article suggests several other ways to withdraw cash with generally better tax consequences, such...

Business owners must monitor the cash flow and tax positions of their companies, while also looking out for their own personal financial futures. This article looks at how to lay the foundation for a strong exit strategy using a buy-sell agreement and family-focused succession planning...

Most individuals don’t regard themselves as businesses, trying to turn a profit and beat the competition. But, occasionally, it may help to look at one’s financial situation this way to determine where to cut expenses and boost cash flow. This article provides some tips, including...

Business owners often have most of their money tied up in their companies, making saving for retirement especially challenging. Those who haven’t already set up a tax-advantaged retirement plan should think about setting one up this year. This brief article offers up a few options...