Health insurance is expensive, and making sure it’s a write-off in your business is a big deal. Regrettably, it’s not as easy as just putting it on your P&L and treating it like office supplies. Health insurance premiums can be deductible. However, they must be reported in a specific way based on your type of
You may have heard that self-directed rules prohibit you from making the following investments:
I’m not proposing setting up any sort of business to simply lose money for tax write-offs, but to build a business that allows you to make more money, and save taxes by writing things off you wouldn’t otherwise be able to.
Every week our firm gets call from clients around the country who have lost money by investing with friends, family or neighbors they trusted—but who were not licensed to sell securities or did not properly document the relationship as a partnership.
The Rule of Thumb should be to file an Extension. Send in the appropriate deposit, dig up better records, and then file before October 15th
But what if you STILL owe taxes for whatever reason and the May 17th deadline is really concerning you? Here’s what you need to do in order to minimize any penalties and interest.
Making sure our travel has a ‘business purpose’ is critical and a perfect opportunity for business owners for a great tax write-off.
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.
The Auto Deduction is the best it’s been in over 30 years, with business owners able to write-off a vehicle faster and with even bigger deductions!
Are you wondering what to do If you can’t pay your taxes by October 15th this year? Do you feel like you don’t have any options, and all is lost? Are you considering not even filing your tax return at all? The worst thing a taxpayer can do: is to do nothing at all. Here
The FONCE (Family-owned non-corporate entity) Exemption is most common for rental property owners in Tennessee to save on taxes.
In this article, I will break down 10 ways to write-off your pet on your taxes. If you’re a pet owner, you know the joy and companionship a pet can bring to your life. But did you know that you may be able to write-off some of the expenses associated with owning a pet on
