ACCT4405 Lecture Notes - Lecture 25: Alternative Minimum Tax, Incentive Stock Option, Macrs
Document Summary
Founders can sell their shares and pay no taxes qsbs. Can get more money back than you paid: withholding or payment you make, eic, dependent child credit (partial, american opportunity credit (partial) for dependent that isn"t a child. Pay as you make money - interest and penalties if you don"t pay in a timely manner. Have to be an employee for withholdings. Estimated in quarterly payments if you don"t do withholdings. We don"t know what our income looks like all the time. You can either pay 100%* of prior year tax liability - safe. Or pay 90% of current year tax liability (lower of the 2) - unsafe. 20% of qbi or 50% of wages or 25% of wages + 2. 5% of unadjusted basis of qualified property. Only up to your loss to offset winnings. If you borrow money to make money you get to deduct the interest on that money. Different rules for houses in 2018 v. 2017.
