Tax and Legal Educational Articles
Last Chance to fund an HSA for a Write-off in 2020
The HSA could be one of the biggest tax-saving strategies AND health care-saving strategies of your life. It includes a tax deduction upfront, tax-free growth, and tax-free withdrawals at any age.
The Coverdell ESA or Educational IRA: A Hidden Gem
The little-known fact that can transform your Coverdell ESA into a powerhouse for college savings is the fact you can self-direct the investments.
2021 Tax Deadline Changes Summarized
The special extension to May 17th ALSO applies to Traditional IRAs and Roth IRAs. Taxpayers now have until May 17th to contribute these special retirement accounts and still have them apply to 2020.
What to do if You Can’t Pay Your Taxes by May 17th
Don’t let your inability to pay your tax liability in full keep you from filing your tax return properly and on time. If you don’t file your Extension, it only makes things worse.
Tennessee Rentals and the FONCE Exemption
The FONCE (Family-owned non-corporate entity) Exemption is most common for rental property owners in Tennessee to save on taxes.
Do I need to File an Extension for my Business Taxes
Many business owners don't realize that their new entity/business they created last year, even if it didn't make any money, is still required to file a tax return. Even some experienced business owners don't even know when the deadline is and rely on a professional...
What to do If I can’t pay my Taxes by October 15th
So many people think all is lost when they can’t pay their taxes by October 15th and just decide not to file. The worst thing you can do on October 15th, is throw up your arms in exasperation and not file!! This is when things can quickly go from bad to worse. There are also several strategies to pay the taxes and keep the IRS off your back and not knocking on your front door.
The Best Auto Deduction Strategies for Your SUV or Truck
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 Implement a 2021 Strategic Plan for Success
Even experienced business owners can benefit from using a Strategic Plan as an integral part of their business. It is so difficult to manage all of the loose ends and chaos that can occur when running a small business. A Strategic Plan sets forth a timeline of specific tasks that need to be completed in order to make your Business Plan a reality.