This is a unique trick we implement for several clients each year. If you previously paid a lot in Self-Employment Tax and for some reason had an LLC (sometimes a major mistake by other planners), you can easily still elect it to be taxed as an S-Corporation retroactively to January 1st, 2013
Travel and dining during the holidays can be a great impetus to have productive meetings with your board of directors, vendors and employees to make plans for the New Year.
Many entrepreneurs don’t realize it but as small-business owners we have more options to save on healthcare costs than any other group of Americans. The tax-planning and cost-saving strategies can be phenomenal.
I am convinced that the S-Corporation (S-Corp) is one of the most powerful long-term strategies to build upon.
There comes a time in the lifespan of just about every business when
I don’t know how this whole craze started and frankly, or who started the spread of misdirection and misinformation, but the LLC for all of its good and bad is here for the foreseeable future. Thus, I would be remiss not to tackle this important topic set the record straight.
Rental property can be an excellent investment tool and it often is. However,
I often times get asked the question regarding the ability to write-off clothing and and laundry expenses.
There comes a time in the lifespan of just about every business where the potential for growth (maybe substantial growth) is there, but additional capital will be necessary to make that growth happen.
Please realize that you actually may have a unique situation and there isn’t a one-size fit’s all approach or answer to a every new business situation. You will most certainly have a set of facts that are different from friend’s, mine or anybody else.