1099 Rules for Business Owners in January 2021
The general rule is that business owners must issue a Form 1099-MISC to each person they have paid at least $600, but from there it gets tricky. Entrepreneurs need to know the rules for 1099s and here is what you need to know!!
Putting Your Children on Payroll in 2020 before year-end
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 is an excellent strategy to minimize their tax liability, not to mention it creates a host of other ancillary benefits.
Deducting Your Holiday Business Travel and Dining before Year-end
Travel and dining during the holidays can be an important write off and an important reason to have productive meetings with your board, customers, vendors and employees.
2020 Year-End Health Care Strategies for Small Business Owners
Here are important year-end healthcare savings and tax strategies to implement for every small business owner to consider. They could help you save thousands of dollars when you build your health-care plan of attack.
Why Put Your Spouse on Payroll in 2020 before Year-End
Now although there are reasons not to put your spouse on payroll, I would argue there are two (2) GOOD REASONS to put a spouse on payroll before year-end. Both of these strategies create great excellent tax deductions and good use of money
Choosing the Right Health Insurance during Enrollment
There are truly several tricks or strategies to maximizing your tax-writes and acquiring the correct health insurance policy.
What If I Can’t Pay My Taxes by October 15th?
Even some of the most careful and successful people have faced unforeseen financial situations due to covid, and although there are NO MORE extensions this year, there are a few things you can AND need to do that will lessen the pain, and frankly minimize any collateral damage.
The Best Strategy to Deduct Your Auto, SUV or Truck in 2020
The Auto Deduction is the best it’s been in over 30 years, with business owners being about to write-off a vehicle faster and with even bigger deductions!
How to Protect My Personal Residence from a Lawsuit
For most of us, our home is one of our most valuable assets. It truly is our “castle”, but it can also be one of our most vulnerable assets. Here are 8 strategies that should considered in a well designed Asset Protection Plan.