If you ever run short of money there are two places you should never, ever go for a loan. Your friendly neighborhood loan shark. Miss a usurious payment and you could get your legs broken. Ouch! The payroll-tax money you’ve withheld from your employees. Borrow just a little and Uncle Sam will break your legs. Maybe not literally, but you will suffer tremendous … [Read more...]
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Beware of the stealth Alternative Minimum Tax
A stealth bomber is deadly because, thanks to its radar-defeating design, the enemy can’t see it coming. That’s why the Alternative Minimum Tax (AMT) is often called a “stealth tax.” It’s a tax that you often don’t see coming until it’s too late! Why is the AMT so dangerous? Why can it cause you such trouble when you want to change the way you do business or practice … [Read more...]
Yes, you can afford group health-insurance!
If you’re like a lot of small business owners, you want to cover your employees with group health-insurance, but you’re worried about the costs. That’s why you should read my new article. You see, I can show you how to… Cover your employees with group health-care coverage Limit your annual insurance costs, Get a tax deduction Give tax breaks to your … [Read more...]
How your S corporation can avoid Obamacare penalties
Watch out! The Affordable Care Act (Obamacare) assesses nasty penalties if your business pays the individual insurance-premiums of your employees. (Under Obamacare, you simply can’t deduct those premiums!) As an S corporation owner, this could be a big, expensive problem for you. To make matters worse, the IRS hasn’t given definitive guidance on how Obamacare affects S … [Read more...]
S corporations! Save money using income shifting
What’s the perfect gift for family and friends? Stock in your S corporation! That’s right. If you handle things correctly you can save over $6,000 in taxes (versus giving the same dollar-amount in cash.) Until recently, this income-splitting strategy only worked when you gave stock to adults. But because of provisions of the new Obamacare tax law, you now get a benefit … [Read more...]