To get my complete, FREE articlewith all the details… Did it hurt when the Employee Retention Credit (ERC) was repealed for the fourth quarter of 2021? Were you upset when the IRS disallowed the ERC on wages paid to the corporate owner-employee? Well, I’m here to tell you that“The Times They Are a-Changin'.” That’s right. the Employee Retention Creditmay be … [Read more...]
Tax Planning
Sorted by Date
IRAs Are Powerful Moneymakers for Kids
To get my complete, FREE articlewith all the details… The last things kids worry about today is how much money they’ll need in retirement. Which is a pity. And that’s why it makes good sense for you to sit them down and have “the talk” with them. No. Not about the birds and the bees. You have to explain to your children (who have W-2 income), how modest, regular … [Read more...]
Tax Treatment of Employer-Provided Meals: What’s New?
To get my complete, FREE articlewith all the details… Marie Antoinette said, “Let them eat cake.” The IRS said, “Let them eat lunch.” That’s right. For decades, you’ve been able to provide employees with free meals as a tax-free fringe benefit. When it comes to meals, “Free” is a beautiful word. Free meals, that you provide, can offer you some nice tax … [Read more...]
Owe Taxes for Misclassified Workers? It’s Section 530 to the Rescue!
To get my complete, FREE articlewith all the details… You know what’s bad? An IRS audit. You know what’s REALLY bad? When the IRS claims that many of your 1099 independent contractors are actually W-2 employees! You see, if that’s the claim they make, you may have to pay tens of thousands of dollars in unpaid payroll taxes! Why the huge extra tax … [Read more...]
A Huge Tax Break for “Qualified Improvement Property” (QIP)
To get my complete, FREE articlewith all the details… Do you own or lease non-residential (think commercial) real property?Do you use the property for your business, or rent non-residential real property to others? If you do, the interior improvements you make to that property may be eligible for a tremendous tax break. A truly tremendous tax break! Get the full … [Read more...]