Business Tax

3 Simple Tax Strategies That Will Help You to Keep $20,000 and more in Cash

3 Simple Tax Strategies That Will Help You to Keep $20,000 and more in Cash

In business cash is king and that is way I focus on cash flow and what can you do to keep more money in your bank account. We all know the phrase “It’s not how much you make, it’s how much you keep”,  and if you’re in business long enough then you will approach this statement since you should now realize that cash is king.

How to Increase Your Deductions for Healthcare Expenses

How to Increase Your Deductions for Healthcare Expenses

With the high cost of health care, business owners need to ensure that they are maximizing their deductions by implementing the right steps to claim 100% of their expenses incurred for healthcare. You are eligible to utilize the self-employment insurance premium deduction on your individual income tax return (Form 1040). 

5 Business Tax Savings Strategies for Married Couples

5 Business Tax Savings Strategies for Married Couples

Tax planning provides a way for business owners to keep more of the money they earn. The key to tax planning is knowing the right deductions that will work for your unique tax situation. For example, getting an S-corporation election one of the most common tax planning strategies to lower self-employment tax.  

LLC Taxation For Small Business

LLC Taxation For Small Business

Self-employment tax can be a nightmare for owners of limited liability companies (LLCs) and independent contractors. During tax season, they incur a larger than expected tax bill due to self-employment taxes. LLCs are the most common form of business because they are easy to establish. If one person owns an LLC, it is referred to as a single member LLC (SMLLC).