Small Business Tax Strategies

As a small business owner, you want to reward your top performers. But there’s a drawback to doling out stock to highly valued employees: You’re diluting your ownership interest.

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A buy/sell agreement can be a valuable estate-planning tool for business owners.

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At which point do I have to pay self-employment tax?

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Say you want to open another office or relocate to a more modern space, but you can’t afford to lease or buy a new location. One possible solution: Contract for a “virtual” office.

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From which point in time do you value stocks in paying estate taxes?

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What happens to an unsigned tax return?

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At which point do you no longer qualify as a first-time home-buyer?

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Counting gifts towards medical expenses.

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Do you own a personal home that you rent out most of the year? If so, you can deduct expenses attributable to the rental property, including depreciation, maintenance, mortgage interest, property taxes and insurance.

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For parents and grandparents, a basic tax strategy is to transfer income-producing assets (e.g., cash, stock, real estate) to the young ones. The subsequent income is generally taxed at the child’s low tax rate, rather than the elder’s higher one.

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