Do you operate your business as an S or C corporation? Do you reimburse yourself (the owner-employee) and/or your employees for the business expenses you or they incur? If you do, you could be losing thousands of dollars worth of tax deductions as I’ll explain in my new article. You see, if you don’t follow the IRS’s expense reporting rules (“accountable plan” rules) you’re … [Read more...]
How to slash your unemployment tax bill
Want to save a lot of money next time you hire a new worker? Don’t hire them as an “employee.” Add them as an “independent contractor.” That status distinction can save you a bundle as you’ll learn when you read my new article. In fact, you can save literally thousands of dollars in federal employment and unemployment taxes by knowing how to play the game. But be careful. … [Read more...]
When you’re spying, write off your expenses
What are your competitors up to? To find out, maybe you’ve visited their operations and done a little snooping. That’s fine with Uncle Sam. And as I’ll explain in my new article, he’ll let you deduct the cost of your spying — even the amount you pay for your rivals’ products and services! Want to find out how you can play James Bond at the IRS’s expense? Put on your trench … [Read more...]
Let Uncle Sam pay for your vacation cruise
Here’s a fact that every business traveler should know… If you follow a few simple rules, the IRS will allow you to treat your vacation cruise as a business transportation expense. This means you can deduct most or all of the cost of your luxury cruise, depending on your particular circumstances. Want to find out how to take advantage of the IRS’s sale on sailing? Read … [Read more...]
How to avoid the $100-per-day penalty of the Affordable Care Act
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...]