Business Deductions Archives - Page 5 of 9 - Philadelphia CPA
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Business Deductions

I can assist your small business in a number of significant ways, including:educate you to employ every legal tax deduction be in 100% compliance with the tax code avoid potential events that might trigger a tax audit reduce you taxes legally, morally, and ethicallyMy name is Mark Fineberg,...

There are generally tax strategies that can work for you and your business, if you understand the tax code.The Health Savings Account is a powerful part of a health care strategy because:saves you $$$ through lower taxes grows tax-free gives you a chance to take control of...

If you operate your business as an S Corporation, you will need to follow the accountable plan rules to lock in your home office deductions.The accountable plan  or reimbursement method is essentially an expense report that must be submitted to your corporation. Other ways to...

Let me introduce you to the Section 105-HRA--created from the IRS Section 105 medical reimbursement plan and the health reimbursement arrangement (HRA).This plan provides the best possible medical reimbursement plan. To qualify you must have only 1 employee and operate your business as:Proprietorship reporting on...

This article examines a failed rental property purchase and the related tax consequences.Tom Jones lives in Philadelphia, PA and travels to Florida to purchase a rental property. He enters into a contract and that includes a nonrefundable deposit to secure the transaction, and spends $1300...

If you take the proper tax planning actions in reference to your rental property or office building,  you can put more cash in your pocket with the following 4 tax reductions strategies:Accelerate depreciation on certain components of the building identify repairs allocate less to land retire old building...

Let's start with this most important statement of fact. All the numbers included in your tax return are your responsibility. You create the numbers, not your accountant or CPA. You are required to have adequate documentation for your tax return. When you sign your return,...