If you’re not good at paperwork, the corporate form of business is probably not for you. Let me tell you about a tax court case involving William H. Bruecher III. He learned a lesson by paying more than $27,000 in taxes on monies his corporation supposedly loaned to him. Mr. Bruecher’s corporation did not pay […]
Incorporation Is Not for Everyone Read More »
So you’ve set yourself up as an S-corporation. As your business grows, it’s great to think about yourself as a separate entity from the business, so you’re not muddying the waters between personal and work finances, and you’re protected personally from liability. While you’re legally a separate entity from your business under S-Corp, it’s important
5 success rules for your S-corp Read More »
If you operate your business as a pass-through entity, such as a proprietorship, partnership, or S corporation, the profits of that business can generate the Section 199A tax deduction. No-Problem Businesses You qualify for the Section 199A deduction—period, regardless of pass-through business type—when you have pass-through qualified business income (QBI), and 2019 Form 1040 taxable
Take Advantage of the 199A Deduction for 2019 Read More »
On our “Kids And Why They Are Awesome for Tax Savings” Facebook Live session, I discuss tax planning strategies and some of the ways your kids can be a benefit for saving money during tax time. Effects of Tax Savings Over Time Let’s take a look at how structuring your finances for tax efficiencies can
Why are kids so awesome for tax savings? Read More »
