Business Tax Benefits
Tax laws are constantly shifting, and business owners often feel the impact the most. One recent proposal aims to raise the State and Local Tax
February 20, 2025
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Blog
Category: Business Tax Benefits
Business Tax Benefits
If you’re a business owner, taxes aren’t just numbers on a page—they’re a major factor in your financial future. One ongoing tax headache is the
February 20, 2025
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IRS tax planning
In December, The New York Times published an eye-opening investigation into the estate planning strategies used by Nvidia CEO Jensen Huang to protect his wealth
February 19, 2025
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Business Tax Benefits
Tax laws are changing, and your bottom line could take a hit. With key provisions from the Tax Cuts and Jobs Act (TCJA) of 2017
February 18, 2025
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Real Estate Taxes
As remote and hybrid work models reshape the business world, many companies are scaling back on office space. While downsizing can save money, it also
February 14, 2025
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Business Tax Benefits
Why Cybersecurity Matters for Your Business Imagine coming to work and finding your entire system locked by hackers. You can’t access customer data, financial records,
January 19, 2025
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Business Tax Benefits
As a business owner, cash flow is everything. You need your money working for you—not sitting in the IRS’s bank account. Yet, every year, many
January 18, 2025
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Business Tax Benefits
As a business owner, you’ve worked hard to build wealth. But without a plan, high taxes and mismanagement could drain it. A dynasty trust helps
January 17, 2025
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Business Tax Incentives
In a move that benefits business owners involved in research and development (R&D) activities, the IRS has extended the transition period for revising claims for
January 13, 2025
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Small Business Tax Help
Since the Supreme Court’s landmark 2018 Wayfair decision, businesses of all sizes have faced a more complex sales tax landscape. The ruling allowed states to
January 10, 2025
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Business Tax Benefits
Cryptocurrency investors, businesses, and brokers are about to face a major shift in tax reporting. Starting January 1, 2025, the IRS will require brokers and
January 9, 2025
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Business Tax Benefits
The IRS has recently rolled out several updates that are critical for business owners to understand, especially with regard to the Employee Retention Credit (ERC),
January 3, 2025
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Small Business Tax Help
As Donald Trump returns to the political spotlight, business owners are watching closely for potential tax changes that could impact their bottom line. While specific
December 30, 2024
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Tax Fraud
Running a business is challenging enough without the added risk of getting entangled in fraudulent tax schemes. Unfortunately, some professionals misuse their expertise, leading to
December 27, 2024
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Capital Gains Taxes
For business owners, navigating the complexities of capital losses can offer significant opportunities to reduce tax liabilities. Understanding how to strategically manage and utilize these
December 27, 2024
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Business Tax Benefits
Each year, the IRS adjusts various tax provisions to account for inflation, impacting standard deductions, income thresholds, and retirement contributions. These adjustments are particularly relevant
December 27, 2024
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Small Business Tax Help
Start-ups often face numerous hurdles, and unfortunately, many new businesses overlook critical tax obligations. Cash flow issues, often stemming from tax missteps, contribute to the
December 23, 2024
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Business Tax Benefits
Starting January 1, 2025, the IRS is implementing new interest rates for tax overpayments and underpayments. These quarterly adjustments, based on the federal short-term rate,
December 23, 2024
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Tax Preparation Options
In recent news, Intuit, the company behind TurboTax, faced backlash from the National Association of Tax Professionals (NATP) over a recent ad campaign. The ad,
December 20, 2024
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Cryptocurrency Taxes
The IRS recently announced a significant shift for cryptocurrency reporting, impacting those who rely on digital assets. Until now, taxpayers could use “universal wallet” accounting,
December 20, 2024
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Business Tax Benefits
In the wake of a natural disaster, one of the most challenging tasks for business owners and individuals is reconstructing financial and tax records. These
December 19, 2024
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Business Tax Audits
State and local tax (SALT) regulations are evolving rapidly, and 2025 promises to bring even more changes that will challenge businesses and their advisors. For
December 18, 2024
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Business Tax Benefits
As we approach the end of the year, it’s time for business owners to take a hard look at their finances and implement strategic tax
December 18, 2024
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Business Tax Benefits
If you’re a business owner looking to make a smart investment before year-end, don’t overlook the tax benefits of purchasing a business vehicle. By acting
December 16, 2024
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Business Tax Benefits
As we approach the end of the year, many business owners are preparing to distribute bonuses to employees. Bonuses are a great way to reward
December 16, 2024
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Business Tax Benefits
As the Trump administration prepares to take office, business owners should be prepared for potential shifts in tax policy, especially regarding provisions from the 2017
December 13, 2024
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Business Tax Benefits
As the year comes to a close, it’s the perfect time for business owners to revisit their vehicle-related tax strategies. Whether you’re using a vehicle
December 12, 2024
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Business Tax Benefits
As we head into 2025, one topic gaining significant bipartisan support is the restoration of the immediate expensing for research and development (R&D) costs. For
December 9, 2024
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Business Tax Benefits
For decades, business owners have utilized Section 1031 of the Internal Revenue Code to defer taxes on the exchange of property used in their trade,
December 6, 2024
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Business Tax Benefits
As we gear up for the 2024 Presidential election, tax policies proposed by the candidates are front and center. Business owners are especially interested, as
December 6, 2024
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Business Startup Taxes
Selecting the right business structure is a crucial decision for any entrepreneur or small business owner. Your choice not only affects your liability but also
December 5, 2024
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Business Startup Taxes
Running a business can be both exciting and challenging, but one wrong move can lead to financial disaster. As a business owner, having a solid
December 5, 2024
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Business Tax Benefits
When it comes to structuring your business, the entity you choose can have a profound impact on your tax liabilities, personal liability, and operational flexibility.
December 4, 2024
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Business Tax Benefits
Introduction As a business owner, navigating the complex tax landscape can be overwhelming. One aspect of the U.S. tax system that may catch you off
December 3, 2024
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Business Tax Benefits
As a business owner, understanding the tax implications of capital gains and losses can have a profound impact on your overall financial strategy. Whether you’re
December 3, 2024
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Charitable Deductions
Charitable contributions are an excellent way for businesses to support their communities, reduce taxable income, and foster goodwill among customers and employees. However, understanding the
December 2, 2024
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Business Tax Benefits
As a business owner, navigating the ever-changing landscape of healthcare can be daunting, especially when it comes to tax implications tied to health insurance. With
November 29, 2024
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Freelancers and Taxes
One of the most important decisions business owners face is determining whether a worker should be classified as an employee or an independent contractor. The
November 28, 2024
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Tax Deductions and Credits
When it comes to filing your taxes, claiming dependents can significantly reduce your taxable income, often leading to valuable tax credits and deductions. But, determining
November 28, 2024
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Taxes and Divorce
Divorce is a life-altering event that can have significant financial implications, particularly when it comes to taxes. As a business owner, understanding how your tax
November 28, 2024
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Business Tax Benefits
As a business owner, it’s essential to stay updated on all tax benefits available—not just those directly tied to your business, but also those that
November 27, 2024
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Business Tax Benefits
For many business owners, early retirement can seem like an enticing option or an inevitable necessity. However, stepping away from your business before reaching age
November 27, 2024
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Business Tax Benefits
As a business owner, financial setbacks can sometimes lead to more deductions than income. While it may seem like a straightforward benefit to offset losses,
November 26, 2024
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Business Tax Benefits
As a business owner, navigating the complexities of health insurance requirements for employees can be challenging. With new updates in 2024, it’s essential to stay
November 26, 2024
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Business Tax Benefits
As a business owner, managing travel expenses for yourself and your employees can be a tedious task. Fortunately, the IRS offers a streamlined way to
November 20, 2024
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Business Startup Taxes
Start-ups often face numerous hurdles, and unfortunately, many new businesses overlook critical tax obligations. Cash flow issues, often stemming from tax missteps, contribute to the
November 14, 2024
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IRS tax planning
For many business owners, tax season means facing one of the largest bills of the year. While paying taxes might not be anyone’s idea of
November 12, 2024
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Business Tax Benefits
As Donald Trump prepares for his presidential term in 2025, his tax policies and priorities are already a hot topic, particularly for business owners navigating
November 12, 2024
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IRS tax planning
As Donald Trump prepares to return to the White House, his administration’s tax policy direction is a topic of keen interest for business owners. With
November 7, 2024
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Tax deductions
As a business owner, you’re always looking for ways to optimize your tax strategy, and sometimes, opportunities come from unexpected places. Did you know that,
October 31, 2024
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Tax Implications of Disasters
Natural disasters are unpredictable and can bring devastating impacts to businesses. However, having a sound financial plan in place can make all the difference in
October 30, 2024
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Business Tax Benefits
As we approach another election year, a familiar pattern emerges—clients are beginning to worry. The prospect of Kamala Harris and Donald Trump potentially facing off
October 30, 2024
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Business
One of the biggest tax-related questions for business owners is whether the IRS will classify an activity as a business or a hobby. The answer
October 28, 2024
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Business Tax Benefits
As a high-income business owner, you are likely familiar with the benefits and pitfalls of the tax system, but 2024 brings several updates that could
October 28, 2024
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Business
A solid buy-sell agreement is crucial for any business owner, especially those in closely held companies, to ensure smooth transitions and protect their financial interests.
October 28, 2024
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Business Tax Benefits
As a business owner, managing rising healthcare costs is one of your ongoing concerns, and a Health Savings Account (HSA) can offer a practical, tax-efficient
October 28, 2024
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Business Tax Benefits
As we approach 2024, understanding the gift tax rules is essential for business owners who are planning to make gifts to employees, family members, or
October 28, 2024
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Business Tax Benefits
As a business owner, understanding the tax implications of all sources of income is essential for proper financial planning. One often overlooked area involves gambling
October 28, 2024
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Business Tax Benefits
As a business owner, it’s essential to understand the tax implications of providing fringe benefits to your employees. Fringe benefits encompass a wide variety of
October 28, 2024
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Business Tax Benefits
As a business owner, understanding how your filing status impacts your tax liability is essential for minimizing costs and staying compliant with IRS rules. For
October 28, 2024
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Small Business Tax Help
As a business owner, it’s crucial to stay informed about the latest tax reporting requirements, especially with changes that can impact how you report income.
October 28, 2024
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Business Tax Benefits
As 2024 unfolds, tax laws continue to evolve, and families with children can take advantage of several credits and benefits designed to ease financial burdens.
October 28, 2024
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Business Tax Benefits
As a business owner, navigating the complexities of debt is a critical part of managing your financial health. One area that often leads to confusion
October 28, 2024
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Business Tax Benefits
As Halloween approaches, it’s the perfect time to take inspiration from some iconic horror figures for a fresh look at your business strategies. This post
October 28, 2024
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Business Tax Benefits
As a business owner, managing your tax burden can feel overwhelming, especially with ever-changing tax laws and regulations. However, there are numerous strategies available that
October 28, 2024
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Business Tax Benefits
Accounting Today recently highlighted top firms for women in 2024, underscoring the importance of an inclusive workplace. As a business owner, you can implement similar
October 28, 2024
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Business Tax Benefits
The IRS has recently rolled out several updates that are critical for business owners to understand, especially with regard to the Employee Retention Credit (ERC),
October 28, 2024
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Business Tax Benefits
In a recent statement, former President Donald J. Trump announced his intention to eliminate the “double taxation” faced by Americans living abroad. This move marks
October 28, 2024
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Business Tax Benefits
When it comes to tax season, married couples have an important decision to make: should they file jointly or separately? While the majority of couples
October 28, 2024
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Business Tax Benefits
For many small business owners, maximizing deductions can significantly reduce tax burdens, and Section 179 of the tax code offers one of the most powerful
October 24, 2024
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Retirement Account Taxes
As a business owner, planning for retirement is crucial, and Individual Retirement Accounts (IRAs) are often a key component of that plan. However, it’s essential
October 23, 2024
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Business Tax Benefits
As business owners, managing personal finances can be just as important as running a successful company. One strategy that can help ensure a financially secure
October 23, 2024
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IRAs
For business owners planning for the future, individual retirement accounts (IRAs) offer key advantages, especially Traditional IRAs. Knowing how to use them to your benefit
October 22, 2024
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Small Business Tax Help
When it comes to running a successful business, especially one that involves manufacturing, production, or retail, inventory and the Cost of Goods Sold (COGS) play
October 21, 2024
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Business Tax Benefits
For business owners, protecting assets from unforeseen disasters or theft is critical. However, when such events do occur, understanding how to recover financial losses through
October 21, 2024
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Retirement Account Taxes
The IRS has finally issued long-awaited regulations on how required minimum distributions (RMDs) should be calculated for inherited qualified retirement plans and IRAs. These new
October 18, 2024
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Business Tax Benefits
As 2024 begins, many business owners and individuals will find themselves navigating through a changing tax landscape. One of the most significant areas impacted is
October 17, 2024
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Tax deductions
For many business owners, maximizing tax deductions is a key strategy to reduce taxable income and keep more money in the business. Itemized deductions, particularly
October 16, 2024
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Business Startup Taxes
Running a successful business in 2024 requires more than just a good idea—it demands strategic planning, effective management, and attention to financial details. In this
October 16, 2024
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Business Tax Benefits
A like-kind exchange, commonly referred to as a 1031 exchange, is a powerful tool for business owners and investors to defer capital gains taxes on
October 15, 2024
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Business Tax Benefits
A Limited Liability Company (LLC) is one of the most versatile and popular business structures in the United States. Business owners choose LLCs for their
October 15, 2024
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Business Tax Benefits
The tax landscape around moving expenses has seen significant changes in recent years, and it’s crucial for business owners to stay informed about the current
October 15, 2024
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Business Tax Benefits
Getting married is an exciting milestone, but it also comes with important tax considerations. For business owners, understanding how marriage affects your taxes can save
October 14, 2024
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Business
Running a business as a partnership offers numerous advantages, but it also comes with its own set of responsibilities and tax considerations. Whether you’re new
October 14, 2024
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Retirement Account Taxes
As business owners approach retirement, one of the most significant financial decisions they face is selecting the right pension payout option. Understanding the nuances of
October 14, 2024
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Business Tax Benefits
As a business owner, finding ways to legally reduce your taxable income is a smart move. The 2024 QBID offers a unique opportunity for eligible
October 11, 2024
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Real Estate Taxes
For business owners in the real estate industry, navigating the complex world of tax benefits can feel overwhelming. However, qualifying as a real estate professional
October 11, 2024
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Business Tax Audits
Maintaining accurate and organized tax records is crucial for every business owner. Proper recordkeeping can not only ensure that your tax returns are prepared accurately,
October 10, 2024
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Small Business Tax Help
Owning rental property can be an excellent investment, but it comes with its fair share of tax implications. For business owners who are diving into
October 10, 2024
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Business Tax Benefits
If you’re a business owner engaged in real estate, you’re probably familiar with the potential tax benefits of the Qualified Business Income (QBI) Deduction, which
October 10, 2024
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Tax deductions
Understanding the difference between repairs and improvements is critical for business owners, especially when it comes to tax deductions. Misclassifying these expenses can result in
October 9, 2024
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Small Business Tax Help
As rideshare services such as Uber and Lyft continue to grow, many individuals are taking the opportunity to work as drivers. While this can be
October 9, 2024
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Business Tax Benefits
As a business owner, operating an S Corporation (S Corp) comes with various tax benefits, but it also requires diligent adherence to IRS regulations. The
October 8, 2024
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Business Tax Benefits
When it comes to tax planning, business structure plays a vital role. For many small business owners, electing S Corporation status offers valuable tax benefits.
October 8, 2024
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Business Tax Benefits
As a business owner, saving for your children’s education may not always be the top priority, but with the right strategies, it can become a
October 7, 2024
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Business Tax Benefits
As 2024 approaches, it’s essential for business owners to evaluate their retirement savings strategies. With tax-deferred and tax-free growth opportunities available, understanding the contribution limits
October 7, 2024
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Real Estate Taxes
In recent years, the short-term rental market has exploded, with platforms like Airbnb and VRBO offering property owners an easy way to generate income. However,
October 7, 2024
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Business Tax Benefits
As a small business owner, you’re constantly looking for ways to manage costs while keeping your employees satisfied. One area where you can save significantly
October 4, 2024
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Business Startup Taxes
Starting a business is an exciting and challenging endeavor that requires careful planning and execution. A successful business launch goes beyond just having a great
October 4, 2024
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Small Business Tax Help
As we enter 2024, it’s crucial for business owners to stay on top of the latest tax updates and maximize their opportunities for tax efficiency.
October 3, 2024
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Business Tax Benefits
When it comes to running a business, every expense counts, and your vehicle is no exception. Whether you’re making deliveries, attending meetings, or visiting clients,
October 2, 2024
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Business Tax Benefits
As a business owner, renting property to your own business might seem like a straightforward strategy. However, without proper tax planning, this approach can lead
October 1, 2024
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Business Tax Benefits
When considering investment strategies that minimize tax liability, municipal bonds, or “munis,” offer a powerful tool for business owners. Unlike other investment options that are
September 30, 2024
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Deductions
As a business owner, you may already be providing small perks to your employees, such as coffee, doughnuts, or even occasional movie tickets. While these
September 30, 2024
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Business Tax Benefits
If your small business is facing a challenging year in 2024, you might be feeling the pressure. However, there’s a silver lining: you may be
September 27, 2024
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Small Business Tax Help
Expanding your business beyond domestic borders can be an exciting and lucrative venture. As small business owners increasingly dip their toes into the global market,
September 27, 2024
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Business Tax Benefits
As we pass the halfway mark of 2024, now is the perfect time to review and adjust your tax planning strategies. Waiting until the end
September 26, 2024
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Business Tax Benefits
In today’s competitive job market, attracting and retaining top talent is more challenging than ever. Offering a competitive salary is important, but it’s often the
September 26, 2024
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Business Tax Benefits
As a business owner, embracing sustainability isn’t just good for the planet—it’s good for your bottom line too. The 2024 tax year brings a host
September 19, 2024
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Business Tax Benefits
For many business owners, retirement planning is a critical component of their financial strategy. Individual Retirement Accounts (IRAs) provide an excellent vehicle for growing retirement
September 19, 2024
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US Supreme Court
A recent U.S. Supreme Court ruling has sent ripples through the world of small business, with significant implications for how closely held businesses are valued
September 18, 2024
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Real Estate Taxes
Investing in rental properties can be a lucrative endeavor, but it’s crucial for business owners to understand the tax implications that come with it. Whether
September 17, 2024
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Student Tax Breaks
As a business owner, planning for your child’s college education is likely one of your top financial priorities. With the rising cost of tuition, fees,
September 17, 2024
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Small Business Tax Help
In the ever-evolving landscape of tax regulations, business owners continually seek ways to minimize tax liabilities while maximizing the financial benefits for their families. One
September 16, 2024
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IRS tax planning
As a business owner, you may think that issuing a 1099 form is a task reserved for payments made to individual contractors or small businesses.
September 16, 2024
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Business Tax Benefits
If you’re running your business as a C corporation, understanding the implications of the Accumulated Earnings Tax (AET) is crucial. The AET is a 20%
September 13, 2024
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Business Tax Benefits
Introduction As a business owner, understanding tax deductions can significantly impact your bottom line. One area that often raises questions is the deduction of expenses
September 13, 2024
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Business Tax Benefits
Aircraft ownership can be an attractive proposition for business owners, offering convenience, flexibility, and potential tax benefits. However, when structured through an S Corporation, the
September 12, 2024
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Business Tax Benefits
Converting your business from a C Corporation to an S Corporation can be a savvy move that saves you significant amounts in taxes, but it’s
September 11, 2024
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Business Tax Benefits
As a business owner, you are likely always on the lookout for ways to maximize your tax deductions. One often-overlooked opportunity lies in the use
September 11, 2024
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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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Business Tax Benefits
Owning and leasing an aircraft can be an effective way to offset the high costs of ownership. However, as beneficial as this strategy might seem,
September 10, 2024
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Business Tax Benefits
Long-term care insurance is an essential component of financial planning for many business owners, especially those who are thinking ahead about potential chronic illnesses or
September 6, 2024
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Business Tax Benefits
In our ongoing series to help business owners optimize their tax strategies, we previously covered the Disabled Access Credit. Today, we’re delving into another valuable
September 2, 2024
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Business Tax Benefits
In today’s competitive job market, attracting top-quality job candidates can be challenging for business owners. Offering an attractive fringe benefits package is a crucial strategy
August 30, 2024
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Business Tax Benefits
As a busy entrepreneur, finding ways to optimize your tax savings can significantly impact your bottom line. One such strategy involves combining business travel with
August 28, 2024
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Business Tax Audits
As the 2024 election approaches, Vice President Kamala Harris, the Democratic nominee for president, has outlined her tax policy agenda, which largely builds on President
August 27, 2024
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Tax Saving Tips
For business owners seeking to optimize their tax situation, understanding the nuances of tax strategies can lead to significant savings. Here’s an in-depth look at
August 27, 2024
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IRS
The federal government has issued over $1 billion in upfront tax credits to buyers of new and used electric vehicles (EVs) as part of the Inflation Reduction Act. This initiative, which began on January 1, 2024, allows car buyers to receive tax credits of up to $7,500 for new EVs and $4,000 for used EVs directly at the point of sale, making EVs more affordable and competitive with traditional gasoline-powered vehicles.
July 4, 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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Business Tax Benefits
This post explains how business owners can get a valuable tax deduction by writing off the remaining basis of an old roof, elevator, HVAC system or other building components when replacing them. It covers the three key benefits: an immediate tax deduction, reducing depreciation recapture tax later, and the time value of investing the upfront tax savings. An example illustrates just how lucrative this strategy can be for boosting cash flow.
June 27, 2024
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Business Tax Benefits
May 2024 Do you utilize your timeshare exclusively for personal and business lodging? If your answer is “yes,” then it’s time to leverage maximum tax
May 17, 2024
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