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Pass-through Income Deduction

thw cpa murfreesboro tax filing photo

Non-corporate taxpayers may deduct up to 20 percent of domestic qualified business income from a partnership, S corporation, or sole proprietorship. (Code Sec. 199A deduction) A limitation based on wages paid, or on wages paid plus a capital element, is phased in for taxpayers with taxable income above a threshold amount. The deduction is not allowed for…

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Starting a Business in Tennessee

Photo of man starting a new business for TH&W CPA in Murfreesboro

A glance into the processes of starting a business in Tennessee: We see people every month, if not every week, starting a new business.  In most cases, we are helping the client understand the basics of the different types of entities and what best suites them based on their needs and desired outcome of the…

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