Category: <span>C Corporations</span>

Tax Code Offset Game

Tax Code Offset Game

2020 Last-Minute Year-End Tax Strategies for Tax Code Offset When you take advantage of the tax code’s offset game, your stock market portfolio can represent a little gold mine of opportunities to reduce your 2020 income taxes.  The tax code contains the basic rules...
2020 Year-End Tax Strategies for Marriage, Kids, and Family

2020 Year-End Tax Strategies for Marriage, Kids, and Family

2020 Last-Minute Year-End Tax Strategies for Marriage, Kids, and Family If you have children under the age of 18 and you file your business tax return as a proprietorship or partnership, you can find big savings in the work your children do for your business. And if...
Five things to know about employing your spouse.

Five things to know about employing your spouse.

Five things to know about employee in your spouse 1. Pay Your Spouse Tax-Free Employee Benefits, Not Taxable Wages   You’ll realize no tax savings if you put your spouse on the payroll and pay him or her cash wages.  Employee wages you pay your spouse are fully...
Know Whether Your Trip Is a Deductible Business Expense

Know Whether Your Trip Is a Deductible Business Expense

Know Whether Your Trip Is a Deductible Business Expense To help you understand business travel, consider this: You planned a personal trip to Los Angeles, arriving on Friday afternoon and leaving on Sunday afternoon. About a week later, you learn that a vendor you...
Can the IRS Require Odometer Readings with the Mileage Rate?

Can the IRS Require Odometer Readings with the Mileage Rate?

Can the IRS Require Odometer Readings with the Mileage Rate? Do you claim your business miles at the IRS optional rate? If so, imagine you are now being audited by the IRS for your business mileage. The IRS has requested odometer readings for your vehicle. You might...