Matthew Miner's Basic-ish BlogMatthew Miner's Blog

Sometimes I might say something

The IRS has announced that Tax Day 2022 will be April 18, instead of the usual April 15. At first blush, you would think this is because of Good Friday obviously, the holiday celebrating Jesus' death for our sins. Other news sites are falsely reporting this as the reason. However, a little bit more thinking would give you pause. You would think, "Wait a minute, Good Friday isn't a federal holiday." Which is correct: it isn't. I've never gotten work off for Good Friday. So why would the IRS,...

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The Tax Cuts and Jobs Act added 26 USC § 199A, which gives a 20% deduction for taxpayers' "qualified business income." This was intended to give small business owners a deduction to match the corporate tax cut. However, it does not apply to all small business owners, and reading the law and determining who qualifies can be quite confusing.

There are many nuances with this law involving earnings caps, business types, and other random things that you should go over with your accountant and/or...

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