2021 Tax Facts Individuals & Small Business

Description

Tax Facts on Individuals & Small Business is the professional’s complete, authoritative resource to help individual tax payers and business owners maximize opportunities under today’s often complex tax rules. Tax Facts helps advisers of all kinds understand the tax implications of the recommendations that they make for their clients. This publication features:

Thousands of easy-to-read Q&As that comprehensively cover both individual tax issues and also tax issues that are most likely to be faced by small business owners

Practical advice for any professional, including CPAs, attorneys, and estate and financial planners

Detailed explanations of the various types of investment products and techniques that are most commonly used by individuals and businesses

Practice Points that give concise advice on how to handle real-world issues

Tax information to help advisers avoid costly mistakes, as well as correct problems when they do occur New in the 2021 Edition:Extensive coverage of the effect of the SECURE Act on qualified plans, including new RMD rules, new rules on inherited IRAs, and contributions beyond age 72

Complete updates to reflect the CARES Act, including the employee retention credit

Full coverage of PPP and EIDL loan requirements

New updates on the Section 199A rules, including rental real estate safe harbor

Detailed coverage of new employer withholding requirements and Form W-4 requirements

Complete set of inflation-adjusted numbers

Topics Covered:The effect of the SECURE Act

Legal and regulatory changes related to the CARES Act

Capital gains and losses

Tax issues related to business income

Passive and active business income

Estate planning issues for small business owners

Bad debt and worthless securities

Small business valuation issues

Buy-sell agreements

Casualty and theft losses for individuals and businesses

Nontaxable exchanges

And More! See the “Table of Contents” section for a full list of topics