If you were self-employed during 2021 and faced challenges due to COVID-19, you might be sitting on a financial windfall without even knowing it. The U.S. government provided special tax
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, it’s not without its challenges—particularly
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
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 disabilities. However, the cost of
Investing in raw land can be a strategic move for business owners looking to diversify their portfolios. Raw land, which refers to unimproved land without any buildings or other structures,
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
As a business owner, you’re always looking for innovative ways to save money on taxes while maintaining support for your family. If you’re providing financial assistance to your parents or
You can leverage your home office into a tax benefit for both you and your corporation by following these steps. Remember, careful documentation is key to proving your home office