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How to Minimize Your Taxes Using the New State Election for Pass-Through Entity Tax

by paulagooch | Dec 21, 2021 | https://michaelsilver.com/joshua-prince/, Joshua Prince, Silver Advantage Alerts

By MichaelSilver As we approach the final weeks of the year, there is a new and important tax planning opportunity to consider for your Partnership and/or S-corporation business, the timing, and deductibility of pass-through entity state income tax payments. This...

When Should You Submit Your PPP Loan Forgiveness Application, Earlier or Later?

by Jay Javier | Nov 16, 2020 | COVID-19 Resource Center, https://michaelsilver.com/joshua-prince/, Joshua Prince, Silver Advantage Alerts

By Joshua Prince, CPA, MST – Manager November 16, 2020 The Paycheck Protection Program (PPP), a program that provided small-sized businesses with funds to pay up to 24 weeks of payroll and other nonpayroll business costs, officially closed to new loan...

What Is The Qualified Business Income Deduction

by Jay Javier | Feb 19, 2018 | Joshua Prince, Silver Advantage Alerts

The Tax Cuts and Jobs Act of 2017 was a sweeping tax package that has brought significant tax changes to individuals and corporations. A cornerstone of the Act is the new deduction for “qualified business income” (QBI), also referred to as the “pass-through...

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