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Top Tax Benefits of Real Estate Investing

January 9, 2023 by admin

Real estate investing comes with significant tax benefits. Find out how to identify the top tax strategies for maximum benefit and how to use them to your advantage come tax time. As with all deductions, consult your tax accountant for the most up-to-date on what is/is not allowed regarding tax deductions related to real estate […]

Filed Under: Investing, Real Estate

Tax Credit Opportunities

December 13, 2022 by admin

Tax deductions aren’t the only things to consider when looking for ways to reduce your tax bill. There are a number of tax credits that you may be able to claim. A tax credit reduces your tax liability dollar for dollar (and, in some instances, may be fully or partially “refundable” to the extent of […]

Filed Under: Individual Tax

Take the Pulse of Your Tax Health

November 2, 2022 by admin

Regular financial checkups give you an opportunity to identify where you can improve your overall tax situation. They also help identify areas of concern that may require more detailed attention. In a similar fashion, regularly reviewing your tax situation with a financial professional can identify opportunities to improve your tax picture and can often shed […]

Filed Under: Individual Tax

Deducting Home Office Expenses

October 21, 2022 by admin

If you’re one of the many people working from home this year, you may have questions about the home office tax deduction and whether you can qualify for it. Here’s a rundown of the rules. Employees Unfortunately, home office expenses incurred while working as an employee are not currently deductible. The reason: the Tax Cuts […]

Filed Under: Business Tax

Small Business Taxes: Who Pays What?

September 12, 2022 by admin

There are various federal taxes that may apply to your small business. The type and form of business you operate determines what taxes you must pay and how you pay them. At the federal level, several different taxes may apply. Excise Taxes The IRS defines an excise tax as a tax imposed on the sale […]

Filed Under: Business Tax

How to Overcome Accounting Challenges Most Small Businesses Face

August 8, 2022 by admin

Perhaps the number one action you can take to support the financial health of your small business is to stay on top of accounting. Make sure you’re aware of most small businesses’ accounting challenges and learn how to overcome them. We’ll tell you how here! Banking You’ve been banking for years, and you know how […]

Filed Under: Best Business Practices

Mentoring the Next Generation to Take Over the Family Business

July 18, 2022 by admin

Many owners of small businesses would love to see a family member take over their business. If you have children, grandchildren, nieces, or nephews that you think might be interested in running the business in the future, you can help lay the groundwork for that potential transfer of ownership in several ways. Use the following […]

Filed Under: Best Business Practices

4 Tips on How Small Businesses Can Reduce Taxes

June 7, 2022 by admin

As a small business owner, tax liability is the money you owe the government when your business generates income. With changing laws and gray areas regarding deductions, exemptions, and credits, it’s no wonder small business owners rank taxes at the top of the list of the most stress-inducing aspect of business ownership. To reduce that […]

Filed Under: Uncategorized

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