2021 Tax Facts Individuals & Small Business

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