Business Tax Benefits
As a business owner, one of the most critical decisions you’ll make is selecting the right legal structure for your enterprise. This choice can significantly
September 11, 2024
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Blog
Category: Business Startup Taxes
Self-Employed Tax Mistakes
As a business owner, navigating self-employment taxes can be challenging, especially if you’re an active limited partner in a partnership. Recent IRS rulings and court decisions have clarified that simply holding the title of a limited partner isn’t enough to avoid these taxes if you actively participate in the business. Understanding the implications of these changes and exploring alternative business structures like S corporations can help you strategically minimize your tax liabilities.
July 10, 2024
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Business
Combining business travel with personal leisure can be a smart way to take a break while also saving on taxes. By ensuring that the primary purpose of your trip is business-related and keeping thorough records, you can maximize your deductions and enjoy some well-deserved downtime.
July 2, 2024
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Self-Employed Tax Mistakes
As a business owner, properly managing your employment tax obligations is not just a legal requirement—it’s a crucial aspect of running a successful and ethical business. The potential consequences of failing to do so, as illustrated by this recent case, are simply too severe to ignore. Stay informed, stay compliant, and don’t hesitate to seek professional help if you’re unsure about your tax obligations.
July 1, 2024
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Business
This blog post explains why S corporation owners shouldn’t rent their home office to their business and instead opt for employee reimbursement. It outlines the tax-efficient strategy of having the S corporation reimburse the owner for home office expenses, detailing the process and benefits of this approach for maximizing tax savings.
June 28, 2024
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