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Taxes

How Corporations Reduce Small Business Taxes

By Business, Tax Strategy, Taxes No Comments

The proper business entity will save you tons on taxes.   Let’s start with why. Why would corporations and LLCs be good for small business taxes? It’s quite simple. If you don’t have any business structure whatsoever, then you are very likely operating a business illegally AND missing out on huge money saving opportunities. (We also have this brief video summarizing why they are important.)…

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How to Resolve Tax Debt with the IRS

By IRS, Tax Strategy, Taxes No Comments

My wish for the world would be to pay the least amount as possible for taxes, always on time, and not have any debt whatsoever. However, reality looks a little different. One thing we’ve learned from this pandemic is circumstances can change in an instant. Entire industries can be shut down at the snap of a finger. Revenue can get chopped by over half overnight….

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What the IRS Doesn’t Want You to Know

By Accounting, IRS, Taxes No Comments

Everyone’s favorite subject… the IRS!   Maybe a slight exaggeration, but everyone has to deal with them one way or another. The only interaction you might have with them is giving them your money when required. Sometimes more money than is required because you don’t know what you don’t know. Or it might be a more uncomfortable personal interaction through, say, an auditor. The IRS…

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5 Huge Tax Saving Strategies

By Tax Strategy, Taxes No Comments

If you’re sick of being stuck paying a lot in taxes and are looking for some strategies to keep more money, then review these top 5 huge tax saving strategies and take action right now.   Paying attention to these as a business owner will not only make you a lot of money right now, but it will also grow your bank account perpetually, remove…

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2019 Tax Planning Strategies to Save During Tax Time

By Business, Tax Strategy, Taxes No Comments

Tax Planning Strategies You Should Consider before the year is up We know how you like the quick and dirty versions, so we won’t be long winded or technical. Here are a few things to consider when planning to take advantage of the tax code. Deferring Income – In the simplest of explanations, this is postponing income until next year.  Maybe that means asking that…

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