As a small-business owner, you probably incur work-related education expenses from time to time. You may even decide to pursue an advanced degree, such as a Master of Business Administration (MBA). You likely want your employees to be on a path of continuous improvement. There’s much to know about how such business deductions work for Read more about Update on Claiming Business Deductions for Work-Related Education[…]
Starting now, this year (2018), you have to consider your Section 199A deduction in your year-end tax planning. If you don’t, you could end up with a big fat $0 for your deduction amount. If your taxable income is above $157,500 (or $315,000 on a joint return), then your type of business, wages paid, and Read more about 2018 Last-Minute Section 199A Strategies[…]
Your year-end tax planning doesn’t have to be hard. I have outlined below five strategies that will increase your tax deductions or reduce your taxable income so that Uncle Sam gets less of your 2018 cash. Prepaying your 2018 expenses right now reduces your taxes this year, without question. While it’s true you kicked the Read more about 2018 Last Minute Year End General Business Deductions[…]