The Internal Revenue Code (IRC), in multiple ways, is written for business owners because of the many tax deductions they can implement that are not available to W2 employees. Whether you are an established business owner or new to the entrepreneur life, it is crucial to know the best legal deductions for your business so …
When searching for a tax professional, it’s important to know what exactly you’re looking for. From CPA, to Tax Preparer, to Tax Strategist— there are a variety of roles that work together to aid in your personal and business tax needs. Knowing what separates these professions can help you find a tax strategy team you …
You’ve done all the right things. You worked hard all your life and built a successful career or created a profitable business. You have saved and invested and met your financial goals. Now, how do you hang on to it? You need a plan to preserve the wealth you’ve worked so hard to build. You …
Recently Tax Savings Professionals had the opportunity to present a roundtable webcast: Current State of Affairs: Strategies for a Successful Tomorrow. Below is an edited transcript of this far ranging conversation about urgent topics many folks are concerned about today. Led by our own Ted Zamerski, CPA/PFS, CFA, CGMA, the conversation also features Brian Shey, …
The 2017 Tax Cuts and Jobs Act (TCJA) not only slashed individual and corporate tax rates, it also created valuable tax incentives for helping to revitalize local communities through a program that designates Qualified Opportunity Zones across the U.S. Here are the details, including how you can take advantage at tax time. Qualified Opportunity Zones …
We typically only think about taxes when preparing to pay Uncle Sam. Making small changes to how you look at and approach your finances and taxes throughout the year, however, can add up to big savings on your taxes. There are many strategies that can be used, but here are five just to get you …
Many people believe their CPA plays the same role as a tax professional would. But they actually play two very different and distinct roles. Both are important and you need both. The distinction comes down to the roles they each play in your financial welfare. Your CPA is typically the person who prepares and files …
The world has just suffered a sudden stop in economic activity unlike anything that’s ever been seen before due to the COVID-19 virus outbreak. With America now the global epicenter of the outbreak, and US infections still expected to rise, both business and social activity has come to almost a complete standstill. Schools and many …
John D. Rockefeller established the first family office in 1882 to manage his family’s wealth but much has changed over the last century. No longer are family offices and family office services reserved for just the ultra-wealthy. Rather, it is the goals and circumstances that dictate the need for family office services. You may ask …
April is right around the corner. And we all know April brings more than just spring showers. But what if, instead of owing money to the IRS, you received a refund? Fortunately, there are some simple strategies you can use to maximize your tax savings. Tax Loss Harvesting Tax loss harvesting is the selling of …
