How Much Can Tax Planning Save You? The answer may surprise you.
The tax savings are based on individual circumstances. Because everyone’s tax situation is unique, there is no definitive answer to potential tax savings. Some people can take advantage of certain credits, while others can take certain deductions that will not...
Be Prepared for Economic Uncertainty with Our Tax Planning Service
During one of our quarterly meetings with one of our tax planning clients, the client asked the following question: Do you have a list of companies that have done well during recessions or economic downturns? Sure, here’s a list of companies, grouped by sector,...
Is There A Workaround To Deduct My Individual State Income Tax Payments?
Deductible SALT payments before year-end are a priority for pass-throughs.Question: Can I pay my individual state income taxes through my business to bypass the state itemized deduction limitation, and get a business deduction? PROBLEM: While the $10,000 SALT itemized...
What are the benefits of an Accountable Plan specifically for S Corps?
Accountable Plan Background:The Tax Cuts and Job Act eliminated out-of-pocket employee expenses from itemized deductions in 2018. The employees could no longer deduct out-of-pocket expenses.An accountable plan is a policy that companies have in place to help employees...
