017 George Ferullo 2- Tax reform for the self-employed, how to make the most of the changes and avoid some of the pitfalls

Treading Carefully with Self-Employment and Taxes

In this episode, KT  and George discuss:

  • A recent change in corporate tax reform
  • The benefits of being an S corporation
  • Small business owners sweetening the tax situation

Key Takeaways:

  • A pass through entity is an entity where the net income passes directly down to the individual tax payer
  • If you’re a single individual and your taxable income falls under $157,500… you can take that 20% deduction off your bottom line
  • What effect is this tax reform going to have on the real estate market?

“Corporate tax reform hasn’t been done in the is country in many years and as a result a lot of our bigger companies have begun to keep and declare their assets out of the country.” – KT Thomas

 

Reach Me Here: KT Thomas

Connect with KT Thomas: https://ktsmoneymatters.com/

Purchase KT’s book- The Hardworking Woman’s Guide to Money

 

 

Show Notes by Show Producer: Anna Nygren

 

Audio production by Turnkey Podcast Productions. You’re the expert. Let us help you prove it.

About the author, Kathleen

Kathleen Thomas, who often goes by KT, has over 25 years of experience in the financial services industry and understands the need for women to take control of their financial lives.

A Certified Investment Management Analyst, Chartered Life Underwriter, and Certified Financial Planner™ practitioner, Thomas earned her degrees in Finance and Political Science from Salem College.

Prior to founding NewDay Solutions, an independent Registered Advisor Firm, Thomas spent 20 years as a private wealth advisor for Ameriprise Financial Services. Many of her earliest clients continue to work with her.

Thomas is an avid long-distance runner and triathlon participant. She has completed the Boston Marathon seven times and the Ironman Distance Triathlon three times. She has volunteered as coach and mentor for Girls on the Run New Hampshire and Team in Training.

Raised in Newton, Massachusetts, Thomas now lives in Seabrook, New Hampshire, with her husband, John. They have one daughter.

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