“Three Ways to Cut Social Securityand Medicare Taxes!” To get my complete articlewith all the details… It’s a fact. Rising federal employment taxes, including Social Security and Medicare, are a growing burden for employees, employers, and self-employed individuals. What can you do to minimize the pain? Consider operating your business as an S … [Read more...]
Self-employment Tax
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Discover the Best Entity for Your Business: Use This Chart
“Which business entityis right for you? Get your free chartTo help you decide” To get my complete articlewith all the details… Are you a business owner or entrepreneur? Then you need to decide which form of business works best for you. Navigating the complex landscape of business entities can be challenging. Luckily, my detailed Entity Comparison Chart … [Read more...]
NFTs and Taxes: New Rules and What You Need To Know Now
“NFTs and Taxes: New Rules and WhatYou Need to Know Now” To get my complete, FREE articlewith all the details… In this issue of the Tax Reduction Letter, I’ll be talking about NFTs - “non-fungible-tokens.” So let’s start with a definition. What is an NFT? NFTs represent ownership of virtual or physical assets which can be bought or sold on online … [Read more...]
Tax-free Conversion of a Partnership into an S Corporation
“Tax-free Conversion of a Partnershipinto an S Corporation” To get my complete articlewith all the details... Do you run your business as a partnership or LLC? [In this issue, I’ll refer to both of these ways of doing business as partnerships, because the partnership federal income-tax rules apply to both.] Then you may be considering turning your business … [Read more...]
When Partners and LLC Members Don’t Pay Self-Employment Taxes
Is your business an LLC, a partnership, or a similar entity? If it is, you need to read my new article. Why? Because the information in it can potentially save you a lot of money. How? By answering this vitally important question... Do you and your co-ownershave to pay self-employment taxes? Because you’re dealing with the IRS, there’s no simple answer to this … [Read more...]