specified service trade or business Archives

Feature Article

The Debate Between S Elections and C Elections: The Overlooked Case of Profit Projections

Few decisions in entity structuring spark more debate among tax practitioners than whether a closely held business should elect S corporation or C corporation treatment. Online forums, continuing educati... Elan Becker, EA

Spring 2026, Feature Article, TCJA, Tax Cuts and Jobs Act, s corporation, c corporation, §199A, AMT, Alternative minimum tax, Form 2553, Form 8832, specified service trade or business, SSTB, S election, C election, entity choice, qualified business income deduction, QBID, §1202, qualified small business stock, QSBS, §1361, §1379, §1362, Fact Sheet FS-2008-25, net investment income tax, NIIT, accumulated earnings tax, AET, §531, §1372, David E. Watson, P.C. v. United States

Feature Article

One Big Beautiful Bill Act Provisions You Cannot Afford to Ignore in 2025

In July 2025, President Trump signed Public Law 119-21, commonly known as the One Big Beautiful Bill Act (or the OB3 Act). Many new provisions impacting individual taxpayers take effect during tax year 2025 and require... Thomas Gorczynski, EA, USTCP, NTPI Fellow®

Fall 2025, Feature Article, §199A, Form W-2, Form 1099-NEC, Schedule C, Social Security, retirement, modified adjusted gross income, MAGI, adjusted gross income, AGI, Form 1099-K, §45W, §25D, specified service trade or business, SSTB, One Big Beautiful Bill Act, OB3 Act, §70201, §224, Form 4137, §911, §931, §933, §70103, §70424, §70425(a), §70426, §70301, §168(k)(2)(B), §168(k)(2)(C), §70501, §70502, §70503, §70505, §70506, income-related monthly adjustment amount, IRMAA, qualified charitable distribution, QCD

Capitol Corner

The Super Bowl of Tax

Congress has been gearing up and preparing for 2025 in what is expected to be a monumental year for tax legislation – the “Super Bowl of Tax.” With changes made by the Tax Cuts and Jobs Act of 2017 (TCJA) scheduled to expire at the end of n... Thad Inge, Samantha Ford, and Michelle McCaughey

Winter 2024, Capitol Corner, TCJA, Tax Cuts and Jobs Act, advocacy, §199A, SALT, additional child tax credit, ACTC, CTC, child tax credit, adjusted gross income, AGI, Robert T. Stafford Disaster Relief and Emergency Assistance Act, premium tax credit, PTC, Inflation Reduction Act, §401, specified service trade or business, SSTB, federal poverty level, FPL, New Market Tax Credit, NMTC, empowerment zone, work opportunity tax credit, WOTC, Revenue Procedure 2021-18