February 2025 Insights Newsletter
Article | February 20, 2025
Authored by Johnson & Sheldon, PLLC
INSIGHTS
BREAKING NEWS: BOI Injunction Lifted
On Tuesday February 18th a federal district court in Texas lifted the last remaining nationwide injunction that had halted the BOI filing requirement, resulting now with most small businesses required to file their BOI reports now due March 21, 2025.
From partnerships to side gigs, who really owes self-employment taxes?
Explore the impact of a recent legal shift that broadens the scope of self-employment taxes, including limited partners and gig workers. Learn how everyday activities could land you in the self-employment tax bracket and how to avoid potential penalties.
Maximize your QBI deduction with thoughtful planning
Discover key strategies to maximize your Qualified Business Income (QBI) deduction before it potentially expires in 2025. Learn how to navigate phaseouts, entity structures, and more to enhance your tax savings. Stay ahead with smart planning and ensure you capture this valuable opportunity.
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