Insights into the differences between Sole Proprietorships, Partnerships, Corporations and LLCs. What type of entity should your business be? This report will shed some light on the pro’s and con’s to help you decide.
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The Republican tax bill, Tax Cuts and Jobs Act, will have an impact on your tax bill. Some items will be favorable and some not so much. Here’s an article from Forbes.com which discusses the proposed changes. Three changes I find interesting: One proposed item is the tax rates will change. Instead of seven tax brackets there will be four, 12%, 25%, 35% and 39.6%. For what it would mean if you are making $75,000 per year see this article by Business Insider. Another item I find … [Read More...] about How Will the New Tax Reform Bill affect your tax return?