Are you worried about violating the Obamacare rules and exposing yourself to the $100-per-day penalty? Relax! We’ll give you the assistance you need to put you on the road to recovery. The IRS will be looking very closely at how you reimburse employee health insurance bought on the individual market—if you aren’t careful, you may unintentionally violate the Affordable Care … [Read more...]
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Save on taxes by putting your kids to work
If your children work in your business you can benefit in two important ways. You’ll get to have extra family time and help them develop a strong work ethic. You can create some nice tax savings for yourself. Want to learn how you and your kids can both benefit thanks to Uncle Sam? Don’t miss my new article titled Tax Tips: Hire Your Kids to Work in Your LLC or Sole … [Read more...]
How to write off clothing and laundry expenses
A while ago, we showed you how to deduct the cost of work clothes and laundry services that you buy for yourself and your employees. But in my new article, I’ll show you how to get a deduction for yourself even if you don’t offer a clothing/laundry benefit to all your employees. In other words, to use the language of the tax law, we’ll show you how to “discriminate” … [Read more...]
How to avoid a payroll-tax embezzlement catastrophe
Could you be the victim of a payroll-tax embezzlement scheme? You bet you could! And, as I’ll explain in my new article, if you are duped, and your payroll taxes don’t reach Uncle Sam, you could wind up paying double your payroll taxes. You could even lose your business! The good news? It’s easy to avoid embezzlement problems if you know a simple prevention technique. … [Read more...]
How to throw a party and get a 100% deduction
Allow me to rewrite the lyrics of a famous song in order to help you cut your tax bill… The party's over, It's time to call it a day And if you’re up on the law, Deduct all expenses away. That’s right. Thanks to Uncle Sam, you can deduct 100% of the cost of your company parties if you follow a few simple rules. The bottom line? Before you crank up the music and the … [Read more...]