Our Tax Blog
A collection of our articles on various aspects of taxes. We cover Tax Representation subjects (collections, liens, levies, penalty abatement), individual tax situations, and business taxes.
COVERDELL EDUCATION SAVINGS ACCOUNT (ESA)
Unlock Educational Opportunities: Leveraging Coverdell Education Savings Accounts for Small Business Owners Introduction For small business owners, planning for your children’s education is a critical part of financial planning. A Coverdell Education Savings Account...
UNDERSTANDING IRS SECTION 139 – DISASTER RELIEF PAYMENTS
Managing Business Expenses During Disasters: Understanding IRS Section 139 Overview In times of disaster, IRS Section 139 provides a valuable tool for small business owners to support their employees tax-free. This article delves into the specifics of Section 139, how...
DE MINIMUS THRESHOLD
Navigating the De Minimis Safe Harbor Threshold for Small Businesses Overview The De Minimis Safe Harbor provision offers small businesses a simplified method to deduct low-cost items used for business, enhancing tax compliance and financial management. This article...
SELF-EMPLOYED HEALTH INSURANCE
The Strategic Advantage of Self-Employed Health Insurance for Business Owners Introduction: For business owners, especially those who are self-employed, optimizing tax savings while ensuring comprehensive healthcare coverage is essential. The self-employed health...
SOLO 401(K) (BUSINESS)
Unlocking Retirement Potential with the Solo 401(k) for Small Business Owners Overview The Solo 401(k) plan is a powerful retirement saving tool specifically designed for small business owners and self-employed individuals without employees. This article discusses the...
PRIVATE FOUNDATION (INDIVIDUAL) STRATEGY
Empowering Philanthropy: Establishing a Private Foundation for Small Business Owners Embracing philanthropy not only fulfills a desire to contribute positively to society but can also provide tax advantages for small business owners. This guide explores the strategic...
VEHICLE PLUG-IN CREDIT (BUSINESS)
Maximizing Business Benefits with the Vehicle Plug-In Credit Introduction For small business owners, the Vehicle Plug-In Credit not only fosters eco-friendly practices but also offers substantial tax savings, enhancing the financial bottom line. This credit provides a...
UNDERSTANDING ACCRUAL TO CASH ADJUSTMENTS
Mastering Accrual to Cash Adjustments for Small Business Accounting Overview Accrual to cash adjustments is a critical process for businesses transitioning from accrual-based accounting to cash-based accounting. This article explains how this adjustment works, its...
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