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.
SIMPLIFIED EMPLOYEE PENSION (SEP)
Streamlining Retirement Savings with Simplified Employee Pension Plans For small business owners, planning for retirement is crucial. A Simplified Employee Pension (SEP) IRA offers a straightforward way to contribute to retirement savings, benefiting both the employer...
SIMPLE IRA (INDIVIDUAL)
A Simplified Retirement Plan for Small Business Owners: Understanding the SIMPLE IRA Introduction Providing your employees with accessible and beneficial retirement savings options is crucial for small business owners. The SIMPLE IRA (Savings Incentive Match Plan for...
WORK OPPORTUNITY CREDIT
Maximizing Workforce Potential: Benefits of the Work Opportunity Tax Credit for Enterprises Introduction For businesses seeking both fiscal advantages and a chance to make a societal impact, the Work Opportunity Tax Credit (WOTC) is a powerful tool. This guide unpacks...
IC-DISC (INTEREST CHARGE DOMESTIC INTERNATIONAL SALES CORPORATION)
Maximizing Tax Benefits with IC-DISC for Exporters For small business owners engaged in exporting, the Interest Charge Domestic International Sales Corporation (IC-DISC) offers a tax incentive to encourage exports. This article explores how setting up an IC-DISC can...
SELF-DIRECTED IRA
Take Control of Your Retirement with a Self-Directed IRA: A Guide for Small Business Owners Introduction: Planning for a secure retirement is essential for small business owners. A self-directed IRA offers a unique way to diversify your investments and take control of...
SECTION 179 EXPENSE DEDUCTION
Maximize Your Tax Benefits with Section 179 Deduction Strategies for Small Business Owners Optimizing tax savings and managing financial flow is pivotal for small business owners. The Section 179 deduction is a significant tax relief that allows the immediate...
FICA TIP CREDIT
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. This...
1031 EXCHANGE (BUSINESS)
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...
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