Are You Paying Business Expenses Personally?
Many business owners routinely pay legitimate business expenses personally without giving it much thought. Over time, those expenses can add up—and the way they are being handled may be worth reviewing from a tax-planning perspective.
What Proactive Tax Planning Could Mean for a Business Owner Earning $500,000
A profitable business can have its tax return prepared correctly and still miss valuable planning opportunities. See how a proactive review could identify an estimated $55,000 to $70,000 of current-year federal tax savings in a hypothetical business-owner scenario.
Why October Is the Right Time for Business Owners to Start Year-End Tax Planning
For many business owners, tax planning begins after the year is already over. By then, some of the most valuable planning opportunities may no longer be available. October can be an ideal time to review what may still be changed before December 31.
100% Bonus Depreciation: A Tax Deduction Shouldn’t Drive a Bad Business Purchase
A large tax deduction doesn't necessarily make an unnecessary business purchase worthwhile. Business owners should evaluate the economics first and the tax treatment second.