Year-End Tax Planning: 6 Tax-Reduction Tips for Business Owners

November 23, 2022
Successful businesswoman - year-end business tax reduction tips

As a business owner, you should implement tax-reduction strategies that decrease your tax liabilities and maybe even net you a return. Either way, you are saving cash and increasing your potential profitability from year to year. As 2022 comes to… Read Now >>

Year-End Tax Planning: 7 Strategies to Offset Capital Gains Taxes

November 16, 2022

As you implement year-end tax planning strategies, the goal is always to reduce your taxable income. Your stock market portfolio could present some opportunities to decrease your 2022 income tax liabilities. Once you know the tax rules and how to… Read Now >>

Year-End Tax Planning: 4 Retirement Plan Steps You Can Take

November 9, 2022
Gold watch - Year-end tax planning for retirement plan concept

The end of the year is coming up soon. This is a critical time for tax planning. You need to take advantage of every tax deduction, credit and benefit you can before the 2022 tax year is complete. At the… Read Now >>

Year-End Tax Planning: Section 199A Deduction

November 3, 2022
Home Office - Section 199A deduction concept

If you are a business owner, Section 199A of the Tax Cuts and Jobs Act (TCJA) allows you to deduct up to 20% of your qualified business income (QBI) as part of your personal income taxes. It may depend on… Read Now >>

Get Ready to Say Goodbye to 100% Bonus Depreciation

October 26, 2022
Small business bonus depreciation tax concept

One of the best business tax deductions of all time will end on December 31, 2022. It’s time to say goodbye to 100% bonus depreciation. This is sad news for many business owners, and it makes tax and expense planning… Read Now >>

The New Clean Vehicle Tax Credit—Good News and Bad News

October 19, 2022
EV car, representing clean vehicle tax credit

Are you in the market to buy an electric or plug-in hybrid vehicle? One of the most tempting reasons to go EV or PZEV is because you can qualify for a federal tax credit (and some state benefits here in… Read Now >>

How to Defer Capital Gains Taxes on Investment Property Sales

October 12, 2022
Hand holding key in sky, capital gains taxes and real estate investment concept

If you recently sold commercial property or a rental property—or if you are planning to sell in the near future—you will want to minimize your capital gains taxes. There are a couple ways to avoid paying these taxes immediately: Defer… Read Now >>

The 10 Best Sources of Tax-Free Income

October 5, 2022
Real Estate Investment - Tax-Free Income concept

Tax-free income? It almost sounds too good to be true. However, there are numerous sources of tax-free income if you really study the Internal Revenue Code. Here are some of the best ways of generating income that is essentially tax-free… Read Now >>

The Benefits of Investing in Series I Bonds During Inflation

September 28, 2022
Financial growth chart, Series I bond concept

There are obviously a lot of drawbacks with inflation. It can be a tough time for investors when expenses go up and the value of the dollar essentially goes down. One method the U.S. Treasury Department is battling inflation is… Read Now >>

Does Your State Offer a PTE Tax Election?

September 21, 2022
PTE tax election concept. People sitting on stacks of coins

Recently, we posted an article about pass-through entity (PTE) taxes and how you can use your business entity structure to maximize tax deductions and minimize your business and personal income tax liabilities. Click here to read the full article. States… Read Now >>