Testimonials

A few years back, the rules for deducting business-related entertainment expenses changed. The deduction was cut in half, only allowing you to deduct 50% of the expense. This was a bit of a blow to many small businesses, and since then we’ve all been trying to find ways around the 50% limit.

There are a number of different ways you can max out your entertainment deduction. Some of the most common include:

Entertain in your home, and conduct business. Your home is conducive to business. If there is a business intent to a gathering and business is discussed or conducted, you may be able to deduct the costs. Beyond that, however, if the business is in the form of a… Read more →

From the perspective of your tax return, a business loss is a good thing. A business loss reduces your overall income, and thereby reduces your income taxes. For many small businesses, properly planning your tax strategy for the year means identifying whether you have a net loss for your business.

Of course, there comes some risk with having a net loss; the IRS can take an active interest in businesses with a loss, especially those that have a loss year after year.

Here are some smart strategies for deducting and preserving your business losses, as well as some information you need to know:

If you’re going to have a business loss, some deductions should be deferred. For example, you might… Read more →

When it’s an “On-Premises Employee Athletic Facility” – and yes, you can deduct that*!

Do you have a home office with a pool out back? If so, have you ever viewed it as a way to pay less in tax? You should! You could be missing out on an opportunity to deduct it under IRS Code Section 132(h)(5) or Section 125!

Like it or not, you need help with your taxes. In fact, taxes have grown so complicated that the tax code contains more words than the bible! A Certified Tax Coach™ will look at your expenses and ask questions, hunting for missed deductions and ways to lower your tax bill.

The single most expensive tax mistake people make is … Read more →

Get more information 888-5-TAXPLAN | Contact