Today was one of those days where personal stuff took precedence over work and tax matters. As a freelancer, I'm usually able to plan things so the I can do both without too much trouble.
Not today. Personal issues won.
That meant I missed out on a #TaxBuzzChat. This is a regular Twitter conversation among online tax folks on various, topical tax matters.
Today a bunch of my Twitter pals — including, but not limited to @beanna_whitlock, @BrettNealCPA, @bstonercpa, @cbriancpa, @DebFoxFinancial, @MelindaNCPA, @RobergTax and @ShaunHunley — discussed year-end tax planning in light of the changes wrought by the Tax Cuts and Jobs Act.
Among the tax reform tax planning topics were how the new law affects alimony, reasonable compensation, the viability of state and local taxes (SALT) workarounds, crypto currency disclosures to the Internal Revenue Service and the ever popular how tax professionals are helping pass-through entity clients deal with the new 199A business deduction.
See why I was so disappointed I couldn't be a part of this tax reform tax planning mastermind conclave?
But all is not lost!
Lee Reams II of CountingWorks and TaxBuzz — or @leereams2 as he's known in the Twitterverse — has compiled highlights of today's chat exchange of tax information.
Thanks, Lee and all who participated in today's online tax talk. And for all the tax geeks who, like me, couldn't make it, enjoy the synopsis!
You also might find these items of interest:
- IRS issues implementing new tax laws could delay 2019 filing season
- Small businesses' many new tax considerations, plus some new tax law tips
- 5 things to consider if the new tax law has you thinking about becoming an independent contractor