November 20, 2018
Tax Tip Tuesday Financial Blog Post

S-Corp Tax Changes Could Mean a Reconsideration… to C-Corp

If you are a business owner with an S-Corp designation, you may want to consider changing to a C-Corporation designation thanks to the Tax Cuts and Job Act. These changes could mean more money in your pocket thanks to the new 21% flat tax rate on C-Corporations.
November 6, 2018
Tax Tip Tuesday Financial Blog Post

QBI Tax Deduction Offers New Savings for Small Business Owners

 If your small business operates as a sole proprietor or through partnerships, S corporations, trusts, and estates, the new Qualified Business Income (QBI) deduction could mean you can now deduct up to 20% of specific types of business income. Thanks to the Tax Cuts and Jobs Act, the QBI deduction may also be claimed on certain dividends. Eligible business owners, those whose 2018 taxable incomes fall below $315,000 for joint returns and $157,500 for other taxpayers, need to know a few things in order to use this deduction.
August 8, 2018
Ideas for small business donations to charity

Top 5 Ideas for Making Small Business Donations to Charity

Business owners can be some of the most philanthropic people on the planet. No one makes more charitable donations than business owners. The IRS estimates business owners give to five or more charities, which translates to them being about 10 times more generous than that of the general population. In fact, 83% of high net worth business owners actually plan to increase their giving in the next three years as well.
May 22, 2018
Tax Tip Tuesday Financial Blog Post

The Tax Cuts and Jobs Act Brings Changes for Business Depreciation

The IRS reminds business owners that the passage of the Tax Cuts and Jobs Act may affect business depreciation deductions and taxes. Generally, we business taxpayers can depreciate the tangible property except for land, including buildings, machinery, vehicles, furniture, and equipment.
May 17, 2018
Financial Teams Tax Strategies Saved Small Business Owners 40000

Financial Team’s Tax Strategies Saved Small Business Owners $40,000

As a business owner, one of the biggest challenges is keeping as much of your hard earned money as possible in your own pocket. Last year some clients of mine wanted to find a way to do just that. So I sat down with their CPA and tax attorney to come up with tax strategies to help do just that for this couple. Let me set the stage for what we did for them.
May 15, 2018
Tax Tip Tuesday Financial Blog Post

New Tax Credits for Small Businesses Offering Health Plans from SHOP

Small Business owners providing health care to their employees should take time to look into the Small Business Health Care Tax Credit, on the IRS website. There are guidelines for those wishing to claim the credit, as well as those that were unable to do so in 2017  because of unavailability of coverage in the Small Business Health Options Program (SHOP) Marketplace. Notice 2018-27 offers directions for calculating the credit under those circumstances.