So if you’re raising capital for your business, depending on the procedure you’re following, the SEC requires you to treat potential investors in certain ways. Sometimes you can avoid looking for Accredited Investors.
Some have the goal to start their own charity. Create their own 501(c)3 or charitable organization. A project that they can control with a board of directors, have fundraisers and events, and maybe even do a little more to impact our society and those in need. I’m writing this article for those ambitious souls that want to start a legitimate non-profit charity.
Many of us immediately think of our personal or family situation when we prepare for a disaster, but not the for emergency preparedness needed for our business. These same disasters affect business owners and can create even greater hurdles for entrepreneurial families to get back on their feet.
The IRS consistently warns taxpayers to not get caught paying ‘employees’ as ‘sub-contractors’. But believe it or not, the IRS, may be the least of your worries. There are 7 deadly results that could occur by trying to call an ‘employee’ a sub-contractor when it’s truly not the case.
Millions of Americans die each year without any type of estate plan in place, and this forces their families into the court system, where they experience huge expenses with probate and significant time delays when they would rather be mourning.
Wouldn’t it be nice if you could get a little help from Uncle Sam as well as a tax write-off for some of that pet food, vet bills, or even that big price tag at the breeder? Well, there might just be an option to save some taxes in the process.
As a fellow parent with college age children, I certainly understand the pressure and stress college expenses can put on a family. I strongly encourage you to study the options above and see if they could possibly work in your situation.
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.
There are several HOT deductions that many taxpayers don’t consider and just ‘leave money on the table’. Here are 6 under utilized write-offs that in my opinion should be a healthy line item on any legitimate small business tax return:
Remember the good old days when you could write-off 100% your new SUV or Truck under the 179 deduction? That was the wild wild west (pre-2006), and then we all became quickly familiar with the $25,000 cap on writing off these gas guzzling vehicles. However, the game has changed with possibly an unintended loophole under the new Tax Cuts and Jobs Act (TCJA). The silver bullet: Bonus Depreciation.