QBI Deduction Basics & A Year-End Tax Tip That Might Help You Qualify
If you own a business, you may wonder if you are eligible to take the qualified business income (QBI) deduction. Sometimes this is referred to as the pass-through deduction or
If you own a business, you may wonder if you are eligible to take the qualified business income (QBI) deduction. Sometimes this is referred to as the pass-through deduction or
Contributing to a tax-advantaged retirement plan can help you reduce taxes and save for retirement. If your employer offers a 401(k) or Roth 401(k) plan, contributing to it is a
Are you considering replacing a car that you are using in your business? There are several tax implications to keep in mind. A Cap on Deductions Cars are subject to
You may be able to deduct some of your medical expenses, including prescription drugs, on your federal tax return. However, the rules make it hard for many people to qualify.
S corporations can provide tax advantages over C corporations in the right circumstances. This is true if you expect that the business will incur losses in its early years because
Many employees take advantage of the opportunity to save taxes by placing funds in their employer’s health or dependent care flexible spending arrangements (FSAs). As the end of 2020 nears,
As we approach the end of the year, it is a good time to think about whether your business needs to buy business equipment and other depreciable property. If so,
Are you thinking about selling stock shares at a loss to offset gains that you have realized during 2020? If so, it is important not to run afoul of the
Owners of closely held corporations are often interested in easily withdrawing money from their businesses at the lowest possible tax cost. The simplest way is to distribute cash as a
Many people have Series EE savings bonds that were purchased many years ago. Perhaps they were given to your children as gifts or maybe you bought them yourself and put