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.)…
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….
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…
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…
It is the time of year where you are asking yourself, what can you do in the next 2 and a half months to save thousands of dollars? This may seem like a long shot gimmick, but the reality is there are actually things you can start doing today to set you up for next year. It is called year end tax planning! …
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…
Incite Tax & Accounting is a Certified Public Accountant (CPA)firm with offices in Sandy, Utah. With over 10 years of experience handling business taxes for large and small Utah companies, Incite Tax is one of the most qualified business CPA firms in all of Utah. No matter your tax needs, Incite Tax is the firm for the job.
Incite Tax believes in sticking it to the IRS. If you’re looking to better your financial situation contact us!
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