Remove 2017 Remove Liabilities Remove Taxes
article thumbnail

The Qualified Business Expense Tax Credit Expires Soon -- Here's What It Could Cost Your Small Business

The Motley Fool

Image source: Getty Images In 2017, Congress passed the Tax Cuts and Job Act (TCJA), which introduced sweeping changes to the tax code, including a tax cut called the Qualified Business Income deduction. Part of that tax bill is set to expire soon, which could have a massive impact on many small businesses.

Taxes 246
article thumbnail

5 Valuable Tax Deductions You Should Know About in 2024

The Motley Fool

Image source: Getty Images At this point, a lot of people are starting to get serious about filing their 2023 taxes. And when doing yours, you may be eager to claim all of the tax deductions you're entitled to. But first, let's do a quick refresher on tax deductions, since they're often confused with tax credits.

Taxes 246
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

The 4 Most Misunderstood Rules of Charitable Giving Write-Offs

The Motley Fool

Not only do the holidays inspire goodwill and cheer, but many people are interested in writing off their donations as we close out the tax year. But there's also a lot of confusion about charitable donations and when you can write them off for tax purposes. To write off a charitable deduction, you'll need to itemize your tax return.

Taxes 246
article thumbnail

3 Ways to Reduce or Avoid Required Minimum Distributions (RMDs) in 2024 That Everyone Should Know

The Motley Fool

The tax deduction you receive upfront can help you save more today and build a big nest egg quickly. But eventually, the government wants its tax revenue. And with some clever planning, you could significantly minimize the impact of RMDs on your taxes. You'll be required to pay taxes on the amount you convert.

Taxes 244
article thumbnail

Is the Invesco S&P 500 Equal Weight ETF a Millionaire Maker?

The Motley Fool

Invesco's number-crunching indicates that back in 2017 the market's 10 largest names collectively accounted for a little over 21% of the S&P 500's total value. In this same vein, do know that the Invesco fund's regular quarterly rebalancing creates recurring tax liabilities for positions held outside of tax-deferring retirement accounts.

article thumbnail

3 Unrivaled Ultra-High-Yield Dividend Stocks Begging to Be Bought in December

The Motley Fool

The intimation is that the replacement of these cables, along with potential health-related liabilities, could be quite costly for telecom companies. It also fails to consider that any liability costs (if there are any) would be determined in the U.S. court system, and that would likely be a long process.

Debt 246
article thumbnail

The Greatest Missed Opportunity of Our Lifetimes

The Big Picture

Instead, we now have massive amounts of liabilities. Your grandchildren will blame the toxic combination of incompetency and ideology for the massively increased carrying costs of unfunded spending and tax cuts. Some of it was merely incompetency but a lot of it was purposeful. just decades later at a much greater cost.

Debt 133