Tax Planning

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S-Corps Don’t Make All Taxes Go Away

By | September 26th, 2018|Categories: Small Business Tax and Accounting|Tags: , |

Image courtesy of user "myrfa" on Pixabay.com Every year, I have a few S-corporation clients who complain that they have a tax liability on their personal return. Typically there's also a comment made about how "other people" they've talked to have S-corps and "never pay anything in taxes." This conversation happens several times a [...]

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Three Ways A Small Business Can (Legitimately) Avoid Regulations

By | April 18th, 2018|Categories: Small Business Tax and Accounting|Tags: , |

A common question from business owners is, how can a small business avoid the crush of taxes and regulations while still staying within the confines of the law?

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From the Archives: Win a Home on TV, Find a Tax Collector in the Attic (the Tax Consequences of Winning a Home in a Giveaway, Part 1)

By | July 4th, 2017|Categories: From the Archives|Tags: , |

This post from January of 2012 is about the tax consequences of winning the HGTV "Dream Home" giveaway.

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When Should I Form an S-Corp?

By | May 4th, 2017|Categories: Small Business Tax and Accounting|Tags: , |

You should look at forming an S-corp when your net income from the business starts to approach the amount of a “reasonable salary” for the work you do.

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The 4 Choices a Small Business Owner Has When Their Business is No Longer a Side Business

By | March 23rd, 2017|Categories: Editorial Commentary, Small Business Tax and Accounting|Tags: , , , |

Many of the business clients I work with are either side businesses, or side businesses that are turning into "real" businesses. I've written before about the struggle of taking a side business and turning it into something more. Today, I'm going to write about the choices a business owner has with their side business when they [...]

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