by Chad Mangum | Oct 23, 2024 | Tax Basics
Optimizing Tax Savings with the FICA Tip Tax Credit for Restaurant Owners The FICA Tip Tax Credit offers a substantial tax benefit for restaurant owners by allowing them to claim a credit for the Social Security and Medicare taxes paid on their employees’ tips.... by Chad Mangum | Oct 21, 2024 | Tax Basics
Enhancing Real Estate Investment Strategies with 1031 Exchanges Real estate can represent a significant tax challenge, especially when selling properties that have appreciated value. A 1031 exchange, also known as a like-kind exchange, offers a strategic avenue for... by Chad Mangum | Oct 18, 2024 | Tax Basics
Enhancing Educational Support: Utilizing the American Opportunity Credit Small business owners with college-age dependents have a unique opportunity to reduce their income tax while supporting educational costs through the American Opportunity Credit. This article... by Chad Mangum | Oct 16, 2024 | Tax Basics
Streamlining Employee Reimbursements with the Accountable Plan For small business owners, implementing an accountable plan is a tax-efficient strategy to reimburse employees for business expenses. This guide covers the benefits, key rules, and steps for establishing... by Chad Mangum | Oct 11, 2024 | Tax Basics
Navigating Meal Expense Deductions for Small Business Owners Meal expenses can offer valuable tax deductions for small business owners, provided they meet certain IRS criteria. This article explains the conditions under which meal expenses are deductible and how to...
Recent Comments