Uncategorized Archives - Philadelphia CPA
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Uncategorized

With the end of the year approaching, I would like to review how you can make use of your stock portfolio to lower your tax bill. I will briefly discuss seven tax strategies that you can use to your advantage. First, let’s go over some background...

The health savings account (HSA) is just one of many possible health plans that you could use. I’m writing about the HSA here to alert you to some of its benefits for you personally—or for you and your employees, if you implement an HSA plan...

Most people gamble periodically.Rule 1- Your Winnings are taxable. Your income from gambling is taxable, and is reported to the IRS on Form W-2G.Rule 2- Keep records of your losses. You are allowed to offset your gambling winnings with your gambling losses-however, the IRS and...

Limited liability companies (LLCs) provide liability protection for all owners (members), regardless of their managerial functions; and multi-member LLCs qualify for favorable partnership-tax rules.This benefit can be lost or curtailed if you do not have an operating agreement document in your company records.LLCs are created...