Tax Deductions Archives | Fricke & Associates CPA

Tax Deductions

March 21, 2019
compilation of words associated with nonprofits

Nonprofits & the 2019 Tax Code

At the end of 2017, President Donald J. Trump signed the Tax Cuts and Jobs Act, which led to the most comprehensive overhaul of the U.S. Tax Code in over thirty years. The overhaul impacted almost every United States citizen and organization, including nonprofits and their generous donors. Most braced […]
January 2, 2019

The Impact of the Tax Cuts and Jobs Act

The Tax Cuts and Jobs Act (TCJA) is a massive bill of over 500 pages. Because of the huge number of changes, each taxpayer is affected differently, and each 2018 tax return must be examined separately to determine both the positive and the negative impacts of the bill. Here, we […]
October 13, 2018

2018 Tax Code Changes Affecting Pass-Through Entities

Recent tax law changes have affected tax reporting for pass-through income. Commonly used by smaller businesses, pass-through income is taxed at standard individual income tax rates. However, many smaller businesses can deduct up to 20% of their pass-through income resulting in a lowered overall tax rate as long as it […]
February 9, 2017

Businesses Frequently Overlook the 9% Domestic Production Activities Deduction

Section 199 of the US Tax Code defines the requirements for a business to take a tax deduction for certain production activities. This part of the tax code was designed to encourage business to start or expand manufacturing businesses in the United States. This is usually called the Domestic Production […]