Category Archives: Corporate Taxes

Business Taxpayers Should Take Another Look at Their Estimated Tax Payments

Posted on June 26, 2019 by cozbycpa

The following article was published by the IRS. Taxpayers who pay quarterly estimated tax payments may want to revisit the amount they pay. The Tax Cuts and Jobs Act changed the way most taxpayers calculate their tax. These taxpayers include … Continue reading →

Posted in Corporate Taxes, IRS, Personal Taxes, Planning Strategies, Self-Employed, Small Business, Tax Law Changes, Tax Payments, Tax Relief, Tax Tips, Taxes | Tagged Cozby & Company, estimated tax penalty relief, paycheck checkup, Plymouth MA CPA Heather Cozby, should I change my estimated tax payment, tax reform and estimated tax payments, Withholding Calculator | Comments Off

Some S Corporations May Want to Convert to C Corporations

Posted on May 8, 2019 by cozbycpa

The following article was published by the IRS. After last year’s tax reform legislation, some S corporations may choose to revoke their S election to be a C corporation because of the new, flat 21-percent C corporation tax rate. Before … Continue reading →

Posted in Corporate Taxes, IRS, Self-Employed, Small Business, Tax Law Changes, Tax Tips, Taxes | Tagged avoid double taxation on corporate income, converting to a C corporation, corporate methods of accounting, Cozby & Company, new flat 21 percent c corporation tax rate, Plymouth MA CPA Heather Cozby, revocation of S election, tax reform for businesses, tax reform legislation | Comments Off

Estimated Taxes Form and Publication Can Help People Pay the Right Amount in 2019

Posted on April 17, 2019 by cozbycpa

The following article was published by the IRS. The Internal Revenue Service is reminding self-employed individuals, retirees, investors and others who pay their taxes quarterly that the first estimated tax payment for tax year 2019 was due Monday, April 15, … Continue reading →

Posted in Corporate Taxes, IRS, Personal Finance, Personal Taxes, Planning Strategies, Self-Employed, Small Business, Tax Law Changes, Tax Tips, Taxes | Tagged 2019 Form 1040-ES, Cozby CPA, CPA Heather Cozby, estimated tax for individuals, estimated tax penalty, first quarter tax payment, how and when to pay estimated tax, IRS Withholding Calculator, paycheck checkup, Publication 505, tax advisor in Plymouth MA, Tax Cuts and Jobs Act, Tax Withholding and Estimated Tax, who needs to pay quarterly | Comments Off

Business Owners can Claim a Qualified Business Income Deduction

Posted on March 13, 2019 by cozbycpa

The following article was published by the IRS. Eligible taxpayers may now deduct up to 20 percent of certain business income from domestic businesses operated as sole proprietorships or through partnerships, S corporations, trusts, and estates. The deduction may also … Continue reading →

Posted in Corporate Taxes, IRS, Self-Employed, Small Business, Tax Deductions, Tax Law Changes, Tax Relief, Tax Tips, Taxes | Tagged Cozby & Company, new business deduction, Plymouth MA accountants, qualified business income deduction for business owners, who qualifies for the new business income deduction | Comments Off

Recent Developments That May Affect Your Tax Situation

Posted on February 20, 2019 by cozbycpa

The following is a summary of important tax developments that occurred in October, November, and December of 2018 that may affect you, your family, your investments, and your livelihood. Business meals. One of the provisions of the Tax Cuts and … Continue reading →