"Health Insurance Application Does Not Control Your Tax Deduction" To get my complete, FREE articlewith all the details… The fine print on your health insurance application may sound alarming—but it doesn't necessarily determine your tax deduction. Here are three quick takeaways: To get the full story don’t miss my latest issue of the Tax Reduction … [Read more...]
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Reasonable Compensation Horror Stories: The Tax Man Cometh
"Reasonable Compensation Horror Stories: The Tax Man Cometh" To get my complete, FREE articlewith all the details… Most S corporation owners know they need to pay themselves a reasonable salary—but few realize the tax preparer can also be on the hook. Here are three quick takeaways: To get the full story don’t miss my latest issue of the Tax Reduction … [Read more...]
Do You Have the Right Business Entity for Your Section 199A Deduction?
Do You Have the Right Business Entity for Your Section 199A Deduction? To get my complete article with all the details… You're a high-earning Schedule C filer — 1099s, single-member LLC, sole proprietor — and you assume your 20 percent Section 199A deduction is safe. It isn't, not if your taxable income climbs too high without payroll or depreciable property behind … [Read more...]
You Beat the IRS — Can They Pay Your Attorney Too?
You Beat the IRS — Can They Pay Your Attorney Too? To get my complete article with all the details… You fought the IRS, spent thousands on attorney fees, and won. Now you're wondering: can you get that money back? Theoretically, yes — but the IRS makes it notoriously difficult. You have to clear seven separate hurdles, from proving the IRS's position wasn't … [Read more...]
S Corp. Owners: Don’t Miss These Overlooked Health Deductions
S Corp. Owners: Don't Miss These Overlooked Health Deductions To get my complete article with all the details… Most S corporation owners know how to handle medical insurance. But what about dental, vision, and Medicare premiums? The answer could mean the difference between an above-the-line deduction and little—or no—tax benefit. Here are three reasons this … [Read more...]