The clock is ticking on Section 199A of the 2017 Tax Cuts and Jobs Act (TCJA)—the Qualified Business Income Deduction. Since its inception, this provision has significantly impacted small business owners and entrepreneurs. With the deduction set to expire at the end of 2025, understanding its implications and planning for the future is crucial. This […] Read more “Section 199A: Everything You Need to Know About the Qualified Business Income Deduction”
Tag: tax planning
As 2023 is winding down, there is no better time to start tax planning for the year ahead. For an entrepreneur, this means laying the groundwork for an effective tax strategy and minimizing tax liabilities when possible. In this article, we’ll share a few tax planning tips to guide you through the process and explore […] Read more “Tax Planning Tips for Entrepreneurs”
As the year winds down, it’s time to shift gears to year-end tax planning. To ensure your business is in the best financial position possible, you will need to check all of the correct boxes. This takes careful planning and consideration, so getting a start now will help down the line. In this article, I […] Read more “Year End Tax Planning (The Steps to Take to Be Ready for Year End)”
As we draw closer to the end of the year, it’s the opportune time to discuss the importance of tax planning and how forward-thinking can pay off big when tax time rolls around. This article will walk you through tax planning, whether you are an individual filing taxes or a business, but also how to […] Read more “Tax Planning and the Benefits of Forward Thinking”
Proper business tax planning can be an overwhelming process from start to finish. Most, if not all, business leaders have many decisions to weigh at any given moment and taxes are not always at the forefront of considerations being made. However, without being properly prepared, insufficient tax planning can lead to excess money being lost, […] Read more “Why Business Tax Planning Happens Year-Round”
When you think of a tax strategy, you probably think of putting a plan together to save money. When you think of saving money, you think of more profit. Now, there’s a logical connection between these two ideas, because creating a tax strategy for your business will help you increase your profits. As you prepare […] Read more “How Tax Strategy Aligns with Profit Goals”
Managing taxes for online entrepreneurs can be a challenge because their e-commerce tax considerations can be very different from the considerations of a traditional business. Certain tax considerations can have a big impact on your business’s success, which is why it is so important that you get it right. If e-commerce business owners plan carefully […] Read more “3 eCommerce Tax Considerations for Online Entrepreneurs”
According to reports, more employees bought company shares via employee stock purchase plans during the pandemic. Offering employees company shares as part of their compensation package is common among startups. Not only can it boost employee engagement and further startup success, but it can also turn into a lucrative opportunity for employees. However, there are some things […] Read more “Exercising Your Startup Stock Options”
Every marketing agency needs a tax strategy and now is a great time to put one together. Your tax strategy sets the financial stage for the upcoming three to five years. This forecasts your business revenue and projected expenditures. As a result, you can better plan the best practices for the smart growth of your […] Read more “Building a Tax Strategy for Your Marketing Agency”
Year-end financial tips may seem unnecessary. You work in your business all year so what changes at year-end? But the reality is, we need the end of year to be a time to re-evaluate where the business stands, and look ahead to next year. Now that we’ve fully entered Q4 of the year, it’s always […] Read more “Year-End Financial Tips for Businesses”
When you’re a business founder, you have to learn the ropes quickly. You have to stay agile with your money and make use of every dollar, especially when Tax Day rolls around. What if we said you could get a tax benefit on your stock options? You can through an 83b election. Here’s what it […] Read more “83b Election – How it Works and How to Get Started”
If you are a salaried employee working for an established company, your employer likely provides you with a range of perks and programs that you’d have to pay for or take care of yourself if you ran your own business. From that ever-flowing coffee in the break-room to solid health insurance to the slice of […] Read more “SEP IRAs: An Attractive Retirement Savings Option for Freelancers and the Self-Employed”