Small Business Tax Strategies

Tax-Saving Tips March 2019   When the Second Office in the Home Is a Principal Place of Business When possible, you want to claim that your office in your home qualifies as a principal place of business because this classification   gives you the home-office deduction, and eliminates commuting...

The first consideration is structuring a sound asset protection plan is deciding which form of entity to operate your business. The possible choices include: General & limited Partnerships Sole Proprietorships Limited Liability Companies Corporations Trusts Each has different legal characteristics, tax attributes, an asset protection features. The right combination is based...

IRS NOW SAYS NO PAYROLL TAXES ON FAMILY EMPLOYMENT IN A SINGLE-MEMBER LLC Oops! That’s what the IRS says about its regulation that required corporate payroll tax treatment for single-member LLCs after December 31, 2008.1 In their confessions, the IRS and the Treasury Department admit that...