January 7, 2021

Using Tax Brackets to Reduce Your Effective Tax Rate in 2021

Because tax season is just around the corner, many business owners and financial professionals have begun to turn their attention to lowering tax liabilities for themselves and their clients. One of the ways that can be done is by strategically using the brackets of the progressive tax system. At this point, you may be wondering how that works. Well, today’s entry is all about using tax brackets to lower your effective tax rate!
December 20, 2020

20 Ways to Reduce Your Taxes

2020 is gone and, for financial planners and tax advisors, that means it’s time to turn our attention to tax season. I know, not the most festive subject, but it is something we all must deal with. So, why not make the best of it by discussing ways to lower your tax liability? Yeah, I thought that might pique your interest a bit. Join me as I reveal 20 ways to reduce your taxes!
December 16, 2020

Tax Power Plays for the End of the Year

Tax season is just around the corner and there’s little time left to make moves that will mitigate your tax bill for 2020. I recently sat down with a good friend of mine to discuss these end of the year tax power plays. Chris Mahan, owner of Mahan & Associates is a wizard when it comes to breaking down and taking advantage of the Internal Revenue Code (IRC). That’s why I thought of him when I began researching this subject. So, join me as I breakdown what I learned from Chris!
May 3, 2019

Hiring A Spouse as An Employee – A Smart Option with Many Benefits

Have you ever thought, “Can I hire my spouse?” It might be that you are having trouble with extremely low staffing numbers due to the labor shortage. Or it could be because you need additional “temp help” because you are in a phase of rapid growth. Either way, such a move might present you with a golden opportunity with a variety of previously untapped benefits. Let’s talk about why hiring your wife or husband may just be a great staffing and financial option!
February 26, 2019

How We Avoided Capital Gains Tax on a Business Sale

Did you know that you could sell a business or a highly appreciated asset and not pay a dime in taxes? I know what you are thinking. Yes, it does sound too good to be true. However, this is not one of those cases. It is absolutely possible with a Charitable Remainder Trust. Though it is not for everyone, it can be a great method if you’re looking for ways to avoid capital gains tax on a business sale.
June 19, 2018

Selling Your House? What You Need to Remember About the Taxes

If selling your house is in the near future, you must keep a few things to keep in mind. For example, the sale of your home could put you in another tax bracket, that is unless you also qualify to exclude all or part of the income from the sale. Below, are tax tips you need to know when you sell your home:
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