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2021 Tax Facts Individuals & Small Business

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Tax Facts on Individuals & Small Business is an authoritative resource for professionals to help individual tax payers and business owners maximize opportunities under today’s often complex tax rules – updated to reflect the CARES Act and more.

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


Additional Information
SKU 3190021
Volumes 2021
Publication Date December 18, 2020
ISBN 978-1-949506-89-1
Page Count 768
Author Robert Bloink, Esq., LL.M.; William H. Byrnes, Esq., LL.M., CWM; Alexis Long, J.D. (Lead Contributing Editor)
Edition 2021
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Robert Bloink

Prof. Robert Bloink worked to put in force in excess of $2 billion of death benefits for the

insurance industry’s producers in the past five years. His insurance practice incorporates

sophisticated wealth-transfer techniques, as well as counseling institutions in the context of their

insurance portfolios and other mortality-based exposures. Prof. Bloink is a professor of tax for

the Graduate Program of International Tax and Financial Services, Thomas Jefferson School of

Law, San Deigo, CA.

Previously, Prof. Bloink served as Senior Attorney in the IRS Office of Chief Counsel, Large

and Mid-Sized Business Division, where he litigated many cases in the US Tax Court, served

as Liaison Counsel for the Offshore Compliance Technical Assistance Program, coordinated

examination programs audit teams on the development of issues for large corporate taxpayers,

and taught continuing education seminars to Senior Revenue Agents involved in Large Case

Exams. In his governmental capacity, Prof. Bloink became recognized as an expert in the

taxation of financial structured products and was responsible for the IRS’s first FSA addressing

variable forward contracts. Mr. Bloink’s core competencies led to his involvement in prosecuting

some of the largest corporate tax shelters in the history of the United States.

William H. Byrnes, Esq., LL.M.

William Byrnes is the leader of National Underwriter's Financial Advisory Publications, having been appointed in 2010. He is a professor and an associate dean of Texas A&M University School of Law. He is one of the leading authors and best-selling authors in the professional markets​ with 30 books that have sold in excess of 100,000 copies in print and online, with thousands of online database subscribers. His National Underwriter publications include Tax Facts, Advanced Markets, and Sales Essentials.

Mr. Byrnes held senior positions of international tax for Coopers & Lybrand and has been commissioned and consulted by a number of governments on their tax and fiscal policy. He has served as an operational board member for companies in several industries including fashion, durable medical equipment, office furniture and technology. 

He pioneered online legal education in 1994. In 1998 he developed the first online program to achieve American Bar Association acquiescence. His Master, LL.M. and doctoral programs are leveraged by wealth managers, financial planners and life insurance underwriters.