“Defeat the $10,000 SALT CapWith the PTE Tax (Part 2)” To get my complete articlewith all the details... The IRS put a lid on it. Specifically, a $10,000 lid on State and Local Taxes (SALT) deductions. The SALT can kill lots of deductions costing you real money. But hang on a second. Don’t throw in the towel! You see, 29 states have … [Read more...]
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Self-Employment: A Quick Guide To Tax and Savings Issues
Thinking of becoming self-employed? Before you take the leap, read my new article. Waving goodbye to your boss and going into business for yourself sounds wonderful. And it can be. But before you make the big move, you should be aware of the consequences of your decision. And there are many consequences. The good, the bad, and the ugly. Here’s the story in … [Read more...]
C Corporation? Beware of the Hidden Tax
“C Corporation?Beware of the Hidden Tax” To get my complete articlewith all the details... Do you operate your business as a C corporation? Be careful. Missing a dangerous hidden tax can cost you big money! If you run your business as a C corporation, you have every reason to be happy. You’re enjoying a manageable 21% corporate tax rate You can now keep … [Read more...]
Cut Employment Taxes With the S Corporation
Fed up with paying huge self-employment taxes? I’ll show you how to slash them when you read my new article. Enough is enough! As the owner of an unincorporated small business, you’re probably sick of paying the exorbitant self-employment tax. And who can blame you? You work hard only to seethe IRS smash and grab a big chunk of your income. That’s why I urge you … [Read more...]
Partnerships with Multiple Partners: Tax Pros and Cons
Are you going to run a business with multiple partners? Then know the tax consequences! Yes. There are several big benefits of forming a partnership. For example, your share of gains, deductions, losses, and credits can be passed through to your personal return. But...there are dangerous pitfalls too, which can hurt you badly. I’ll explain both sides of the coin, … [Read more...]