As you’re aware, certain employers are required to report information related to their employees’ health coverage. Does your business have to comply, and if so, what must be done?
Now that Labor Day has passed, it’s a good time to think about making moves that may help lower your small business taxes for this year and next. The standard year-end approach of deferring income and accelerating deductions to minimize taxes will likely produce the best results for most businesses, as will bunching deductible expenses into this year or next to maximize their tax value.
When it comes to your money, it’s not what you earn, it’s what you keep. Here are some ideas that may help lessen your income tax burden, so you can keep more of your investment earnings.
The business entity you choose can affect your taxes, your personal liability and other issues. A limited liability company (LLC) is somewhat of a hybrid entity in that it can be structured to resemble a corporation for owner liability purposes and a partnership for federal tax purposes. This duality may provide you with the best of both worlds.
You may be aware that certain employers are required to report information related to their employees’ health coverage. Does your business need to comply? If so, what must be done?
These days, most businesses have websites. But surprisingly, the IRS hasn’t issued formal guidance on when website costs can be deducted.
Sometimes, bigger isn’t better: Your small- or medium-sized business may be eligible for some tax breaks that aren’t available to larger businesses. Here are some examples.
There’s a valuable tax deduction available to a C corporation when it receives dividends. The “dividends-received deduction” is designed to reduce or eliminate an extra level of tax on dividends received by a corporation. As a result, a corporation will typically be taxed at a lower rate on dividends than on capital gains.
Just browse through the latest true crime documentaries on your preferred streaming network and you’ll
see that people of all ages and income levels are vulnerable to financial scammers. Unfortunately, as we
get older, certain factors put us at greater risk. Social isolation, recent loss of a spouse or close family
member, diminished cognitive abilities, and accumulated wealth can make those over age 60 especially
attractive to fraudsters.
Are you a partner in a business? You may have come across a puzzling situation. In a given year, you may be taxed on more partnership income than was distributed to you from the partnership in which you’re a partner.
