This is a unique trick we implement for several clients each year. If you previously paid a lot in Self-Employment Tax and for some reason had an LLC (sometimes a major mistake by other planners), you can easily still elect it to be taxed as an S-Corporation retroactively to January 1st, 2013
Many entrepreneurs don’t realize it but as small-business owners we have more options to save on healthcare costs than any other group of Americans. The tax-planning and cost-saving strategies can be phenomenal.
Millions of Americans are unaware of the power of an HRA or “Health Reimbursement Arrangement”, in fact, many don’t even know that they exist.
This is a very important question and something we often analyze for clients in our office. In fact, many clients rush to put their spouse on payroll, but for the wrong reasons and it could actually be a costly mistake.
With all of the news coverage, opinions and justifiable confusion with implementation of its final stages, I would like to provide some strategies that can help you through this maze.