Entrepreneurs can own multiple businesses in their lifetime. While you could separately own each business, you lose out on potential efficiencies. Learn more about the benefits a Holding Company Structure provides, and why you should consider implementing one.
Buying a Tesla at the end of the year to lower your tax liability will probably be the worst dinner party tax advice for an unsuspecting online business owner.
One of the most important elements of tax planning for S-corporation owners is to consider the amount of W-2 salary paid to the owner of the business.
One of the most significant expenses a business owner will pay throughout their lifetime is taxes.
The reality is that 95% of business owners are overpaying the IRS every year without knowing it!
When you compound overpaid taxes over decades, the difference could result in you retiring an entire decade earlier.
One key strategy to lower your tax bill before the end of the year is to manipulate the timing of recognizing income and deductions when it’s most advantageous to your business. Before we explore further, we need a quick lesson on how the tax rules work around recognizing income and deductions based on your “Tax […]
Do you know when you can claim a deduction and when you have to defer it? Claiming a deduction on a business return sounds pretty simple, right? All you need to do is look at your practice’s income statement and just enter it into TurboTax as a deduction… no questions asked. It’s a little more […]