Business entity selections are not only important for start-ups, but also for more mature businesses. The more complex a business gets, the more flexibility may be needed in order to maximize tax savings.
5 Business Tax Savings Strategies for Married Couples
Tax planning provides a way for business owners to keep more of the money they earn. The key to tax planning is knowing the right deductions that will work for your unique tax situation. For example, getting an S-corporation election one of the most common tax planning strategies to lower self-employment tax.
The 5 Most Misunderstood Tax Deductions
Which Retirement Plan Is Right for Your Business?
LLC Taxation For Small Business
Self-employment tax can be a nightmare for owners of limited liability companies (LLCs) and independent contractors. During tax season, they incur a larger than expected tax bill due to self-employment taxes. LLCs are the most common form of business because they are easy to establish. If one person owns an LLC, it is referred to as a single member LLC (SMLLC).
5 Easy Ways to Reduce Your Tax Bill: The IRS Doesn’t Want You To Read This
One of the greatest struggles of business owners is cash flow preservation - keeping more of the money they make. Being strategic about how and when to purchase supplies, pay taxes and how to claim charitable deductions can affect the amount of annual income or profit claimed, and therefore the amount of taxes owed.
5 Habits That Can Drastically Reduce Your Tax Bill Before Year End
There are many ways that small business owners can save on their taxes if they take action before year-end. So why do most business owners leave tax planning until the new year when it is a little too late? As a business owner, you work hard to earn your money, but it is not the amount of money you earn that counts - it is how much of that money you keep.