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
Tax Strategy Tuesday: Vacation Rental Property
On Tuesdays, for at least the next few weeks, we will blog about tax strategies that high-income investors and business owners may be able to use to … [Read more...] about Tax Strategy Tuesday: Vacation Rental Property
Build Back Better S Corporation Tax Hits High Income Taxpayers
The Build Back Better Act hits S corporation owners and active real estate investors a bit harder than some of us guessed. In a nutshell? It … [Read more...] about Build Back Better S Corporation Tax Hits High Income Taxpayers
Employee Retention Credit Checklist
It clicked for me a few days ago. We need an employee retention credit checklist. For when we prepare the tax returns of small business owners next … [Read more...] about Employee Retention Credit Checklist
Psst. Time to Raise Your Prices.
I don't know about your small business. But for us? We haven't been very disciplined about raising prices during the pandemic. So even if our costs … [Read more...] about Psst. Time to Raise Your Prices.
That Nearly Secret IRS Personal Wealth Study
Last spring, some fascinating, nearly secret IRS personal wealth information slipped out into public view. And, just so there’s not confusion, I am … [Read more...] about That Nearly Secret IRS Personal Wealth Study
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