April 3, 2018
Published by 
Dan Isard on April 3, 2018
Dan Isard on April 3, 2018Significant tax code changes that apply to business owners when they file personal returns for 2018 income. In last month’s column, I responded to a letter inquiring about the effects of the new tax law on funeral home businesses. Since the present tax code is some 74,600 pages in length, my thoughts on the changes in 2018 need more than the space allotted. Therefore, rather than addressing a new question this month, I will explain the significant changes to the tax code that primarily apply to business owners when they file their personal tax returns for 2018 income. The biggest change in the business tax code is the creation of a new form of income called qualified business income (QBI for those of us who just learned what ROFL means). QBI is used to calculate a deduction on an amount […]
March 20, 2018
Published by Dan Isard on March 20, 2018
Dan Isard on March 20, 2018Combo? Yeah, they play some good stuff. If I referred to a “combo” while in a social setting (which involves a cigar and libation), according to Webster’s dictionary, most would think I’m referring to a jazz band or an appealing color combination. However, in our cemetery and funeral vernacular, we know a combo as a funeral home that operates in conjunction with a cemetery (usually onsite). From my point of view, a combo is a common-sense operation. Throw in a crematory, and voila, now you have the total death-care operator. Rather than using the code name combo, this type of operation should be introduced as a “funeral park” where consumers can pay one price at the gate and take advantage of all the offerings inside. Of course, like theme parks, one may have to pay extra for upgrades like a […]
March 6, 2018
Published by Dan Isard on March 6, 2018
Dan Isard on March 6, 2018Examining the biggest changes in the business part of the Tax Cuts and Jobs Act. Coming next month: personal application of the law. Dear Dan, I am not Jewish, but after trying to decipher the new tax law, I find myself just walking around muttering “oy vey!” Can you help me understand the new tax law or do I need to wait for April 2019, when my accountant files my 2018 taxes? Almost Jewish in Jonesboro Dear Almost Cousin, I will not even try to fit an understanding of the Tax Cuts and Jobs Act, let alone how the new law needs to be applied to your business, in the 1,500 words my publisher allows me. What I can do, however, is focus on the business part of the law this month and address personal application in April. The […]
February 27, 2018
