The Section 199A deduction lets business owners avoid federal income taxes on that last twenty percent of their business income. Which sounds … [Read more...] about 199A Deduction Errors Cost Small Businesses Big Refunds
business taxes
Why Profit Distributions Usually Don’t Get Taxed
We encounter a common misconception from flow-through business owner clients every year and I want to try and clear the air. That misconception? … [Read more...] about Why Profit Distributions Usually Don’t Get Taxed
Tax Strategy Tuesday: Accelerate Depreciation Strategy
For today’s Tax Strategy Tuesday, I’ll be sharing a trick landlords and small business owners with real estate and capital equipment (like vehicles … [Read more...] about Tax Strategy Tuesday: Accelerate Depreciation Strategy
16 Ways of Qualifying for Employee Retention Credits
For the last few weeks, we've been blogging on Tuesdays about tax strategies entrepreneurs and active investors can use. This week, however, a break … [Read more...] about 16 Ways of Qualifying for Employee Retention Credits
Tax Strategy Tuesday: Start a Pension Plan for Yourself
The year is almost over. Not much time at all to take steps that reduce your taxes. But one last-minute idea to share. An easy trick that can help … [Read more...] about Tax Strategy Tuesday: Start a Pension Plan for Yourself
Tax Strategy Tuesday: Startup Business Employee Retention Credit
The year ends in a just a few days. So, a last minute tax strategy: If you can start a business before the year ends, you should be able to employ the … [Read more...] about Tax Strategy Tuesday: Startup Business Employee Retention Credit
Tax Strategy Tuesday: Convert Guaranteed Payments to Qualified Business Income
Okay. This Tuesday? I've got a tax strategy for partnerships. A strategy that can save individual partners thousands in taxes annually. Maybe even … [Read more...] about Tax Strategy Tuesday: Convert Guaranteed Payments to Qualified Business Income
Tax Strategy Tuesday: One Person S Corporation
In a few weeks, one tax year ends and a new tax year starts. For that reason, it makes sense to talk about a powerful tax strategy for small … [Read more...] about Tax Strategy Tuesday: One Person S Corporation
Biden Tax Plan Starts Long Slow Death of the S Corporation
I guess it had to happen. Eventually. The end of the S corporation, I mean. People have complained about the loophole, gosh, probably since … [Read more...] about Biden Tax Plan Starts Long Slow Death of the S Corporation
Solving the Employee Retention Credit Partial Suspension Puzzle
Okay, something you should know if you employ workers. You may have a backdoor method for qualifying for the employee retention credit. The partial … [Read more...] about Solving the Employee Retention Credit Partial Suspension Puzzle