How Much should I send in with My Extension?

how much to 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

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.

Can you really write off the cost of a Cruise?

How to write off a cruise

I recently returned from a cruise. The first 7-day Royal Caribbean cruise since the disruption of 2020. I still had to wear masks here and there on the ship. At least the crowds were down and it was nice to be on a trip again. I just wish it would have been a tax write-off! […]

Does the Household Employee Tax Apply to Me and What to Do

household employee tax

You may have thought the only time you may need to worry about the so-called “Nanny Tax” ( also known as the household employee tax) is if you decide to run for public office and facing a pesky reporter at a political rally. However, it’s a concern everyone needs to take seriously. If you have […]

How to Pay Your Kids in Your Business

Paying Your Kids in Your Business

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.

Health Care Tax Strategies for Small Business Owners

Small-business owners have more options to save on healthcare and insurance costs than any other group of Americans! It simply takes a little bit of research and consulting with professionals to create the perfect plan for you.

What to do If I can’t pay my Taxes by October 15th

Can't Pay My Taxes

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.