When it comes to these ever increasing expenses and strategies to make us more successful in our business, we should be looking for ways to deduct them.

The PATH Tax Act of 2015. It is easily the most positive tax legislative action taken for small business in the past several years and extends several tax provisions and makes many more permanent.

This is a very important question and something we often analyze for clients in our office. In fact, many clients rush to put their spouse on payroll, but for the wrong reasons and it could actually be a costly mistake.

Wouldn’t be nice if we can write-off 100% of our food expense? Well, there are options and several at that.

This has to be one of the most under utilized tax strategies by small business owners with families today. Many don’t realize that paying their children under age 18, as well as adult children or grandchildren, is an excellent strategy to minimize their tax liability, not to mention it creates a host of other ancillary benefits.

Ordinarily KKOS recommends the “S” Corp for anyone seeking to incorporate their operational business. There are obvious asset protection benefits of incorporating, and the “S-Election” can help you save a significant amount in self-employment tax (if done properly)

Here is a list of the TOP 10 things TO do, or NOT do, in order to avoid an audit. As many of you can imagine, an audit can be expensive and time consuming, not to mention, emotionally draining experience.