There are a number of tax obligations that must be met when a business closes its doors. Sadly, because of COVID-19, many businesses are facing this reality. Here are the basic requirements.
Friends, Romans and countrymen, lend me your ears: All ye who must file a partnership or S corporation tax return, watch out for this tax deadline.
The TCJA’s new deduction for owners of pass-through entities can be 20% of qualified business income. But a wage-based limit applies if an owner’s taxable income exceeds certain levels. Find out how the limit works.