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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Blog
Category: Business
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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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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IRS Penalties
Internal theft can be a devastating blow to any business, large or small. A recent case involving Christine Fletcher, a personal assistant who embezzled over
September 4, 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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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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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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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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