How to Maintain My S-Corporation
The S-Corporation can be a powerful structure and tool to save on self-employment taxes and can also protect a business owner’s personal assets from lawsuits that may arise from their operations.
Category: Business
How to Use a Board of Directors
Having a Board of Directors or Advisors will be a ‘support team’ in many ways; giving encouragement, advice, and guidance regarding your vision and goals.
How to Write-off Your Travel Expenses
Making sure our travel has a ‘business purpose’ is critical and a perfect opportunity for business owners for a great tax write-off.
How a Small Business Saves Taxes and Builds True Wealth
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.
The Power of the Health Savings Account (“HSA”)
The Health Savings Account is one of the most powerful pieces of a well designed health care strategy. It includes saving money, saving taxes, building a tax-free ‘bucket’ for health care and most importantly taking control of your own health care strategy.
Should I put My Spouse on Payroll?
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
Is the Single Member LLC a Solution for Me?
Single-Member LLC’s have their place in the spectrum of business entity choices, and whether such an entity is right for you will depend on the details of your own personal situation.
How Many Properties Should I Put in My LLC?
I truly believe that an LLC for every rental property isn’t needed for the far majority of real estate investors. It’s expensive, cumbersome and provides nominal benefit when there’s not a lot of equity in their rentals….yet!!
How Much should I send in with My Extension?
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.
The Power of the Charitable Remainder Trust
The CRT is a very powerful estate planning tool that may enable you to reduce your liability for income and estate taxes, protect your assets AND diversify your assets in a tax-advantaged manner.
The Truth about the Home Office Deduction
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 2022
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.
