Insights

The Basics on Qualified Business Income Deductions

While partners, members and shareholders of pass-through entities were provided a potential tax reduction in the 2017 Tax Reform Act in the form of a 20 percent Qualified Business Income Deduction of their pass-through earnings, determining an owner’s eligibility for and the calculation of the deduction is not so simple. Here are some of the […]

Five Practical Things I’ve Learned About Social Security and Medicare

Five Practical Things I’ve Learned About Social Security and Medicare: Set up an online account with Social Security and get an annual statement of your future benefits each year as soon as you start earning any income. A close friend of mine years ago had a tax return preparer transpose numbers in his social security […]

New Partnership Audit Rules: Why You May Need an Updated Partnership or LLC Operating Agreement

In 2015, the Bipartisan Budget Act completely overhauled the IRS audit rules for partnerships, which include limited liability companies (LLCs) taxed as partnerships and their partners. Those rules will go into full effect for tax returns filed for the 2018 tax year. While there is uncertainty on the application of these rules until we receive […]

Conducting Employee Performance Evaluations

Most supervisors would say that conducting employee performance evaluations is not an area of their job that they look forward to. However, there are many benefits to conducting timely evaluations of employees. Furthermore, evaluations do not have to be time consuming or complex. Most employees would like feedback concerning how they are performing in a […]

New Direct Primary Care Models for Florida

The new Direct Primary Care (DPC) model law will take effect July 1, 2018. DPC practice models eliminate the fee-for-service payment structure and instead accept one monthly flat fee intended to cover all of the comprehensive primary care needs of the patient for the month. Advocates of the DPC practice model tout the model as […]