Tax and Legal Educational Articles
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.
The Truth about the Home Office Deduction in 2021
There are several strategies on how to maximize the write-off and make sure you stay in good graces with the IRS as well as saving the maximum amount in taxes
1099 Rules for Business Owners in 2021
Businesses will now file Form 1099-NEC for each person in the course of the payor’s business to whom they paid at least $600 during the year. This payment would have been for services performed by a person or company who IS NOT the payor’s employee.
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.
Year-End Health Care Strategies for Small Business Owners
If you have more than $3,000 a year in out-of-pocket medical expenses, e.g. co-pays, deductibles, prescription drugs, dental, eye care, chiropractic, etc., then chances are, you could benefit from some additional planning.
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.
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.