Capital Gains Taxes
If you’re a business owner operating as an S corporation and considering shutting down your company, it’s crucial to understand the federal income tax implications for both the corporation and
September 9, 2024
If you’re a business owner operating as an S corporation and considering shutting down your company, it’s crucial to understand the federal income tax implications for both the corporation and
Owning real estate through an S corporation can offer several tax advantages during your lifetime, but what happens when you pass away? This is a question many business owners might
The recent Tax Court ruling in favor of Keith Phillips serves as a powerful reminder of the importance of the IRS following proper procedures when issuing deficiency notices. The court’s
Thinking about donating your car or another vehicle to a charitable organization? It’s a generous move, but did you know that with the right approach, you could potentially save more
As the calendar year winds down, many small business owners are tempted to make last-minute purchases to maximize their tax benefits. While this can be a smart strategy, it’s crucial
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 tax benefit that can make
Navigating the complexities of the U.S. tax system can be overwhelming for many Americans. The intricate web of rules, deductions, and exemptions often leaves taxpayers feeling frustrated and burdened. At
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 a bit of leisure, allowing
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 Biden’s earlier proposals. Understanding these
Schedule C filers, the backbone of many small businesses and sole proprietors, face a daunting reality: they are statistically 3-10 times more likely to be audited by the IRS compared
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