Don’t forget that the deadline for individuals who have filed and extension is October 15. The deadline
is only for taxpayers who owe money. If you know that you won’t owe, there is no penalty for filing
later. However, if you wait more than 3 years, the IRS will not normally allow your refund. October 15 is
also the deadline for funding a SEP-IRA.
The IRS released regs on the 20% business deduction, but the released regs are too complex for 99% of
the population. Consequently,, the released regs will not be discussed here. However, I am writing a
book titled “How To Beat The IRS With Tax Saving Business Strategies” which will provide detailed
information on the new tax laws, and how to determine the best tax saving strategy. The book should
be available on Amazon in late November or early December. Using the best tax strategy can save
businesses thousands of dollars a year. I will provide more information as it becomes available.