This course covers the impact of the new tax laws taking effect in 2018 and how they pertain to small business owners. The course includes 3 videos:
Video 1 – covers the Individual Provisions of the new law. Topics covered in this video and associated eBook include new tax rates, new deduction of 20% of Qualified Business Income of pass-thru entities, changes to the standard deduction, child tax credit, personal exemptions, state and local taxes (SALT), qualified residence interest, the Individual Mandate of the ACA (“Obamacare”) and the Alternative Minimum Tax (AMT).
Video 2 – covers the Business Provisions of the new law. Topics covered in this video and associated eBook include the new corporate tax rate, elimination of the AMT, increased first year expensing and changes to Net Operating Losses.
Video 3 – covers the new 20% Deduction of Qualified Business Income of Pass-Thru Entities. If you own a sole proprietorship, are a partner in a partnership, member of an LLC or shareholder of an S corporation then this is a MUST! This is undoubtedly one of the most significant pieces of legislation ever written for small business. The video and associated eBook cover eligibility for the deduction and how various limitations related to taxable income, business type, wages and equipment are calculated. Upon completion of this video you will understand exactly how this new deduction works and also how it is calculated.
