Tax Strategies

Investment Tax Credits (ITC) have been around since 1962. ITCs were created by Congress to help stimulate the economy and to protect domestic businesses from foreign competition. The types of renewable energy property available for the ITC are, but not […]

Summer isn’t just for barbeques and baseball. It’s also a good time to think about ways to cut your 2023 business tax bill. Here are four planning ideas for small business owners to consider, assuming there won’t be any changes […]

It’s hard to believe that 2023 is already half over. Although summer is a time for vacations and relaxing in the backyard, you can’t afford to take a break from managing your tax bill. Now is a good time to […]

When a corporation is liquidated, the transaction is subject to double taxation. This means that both the corporation and shareholders must generally recognize a gain or loss. The corporation usually deducts its liquidation expenses, such as professional and filing fees, […]

If you want a retirement plan for your small company or self-employed business — but you don’t want to be buried in paperwork — consider a simplified employee pension plan or SEP. Among the appealing advantages: 1. SEPs are set […]

If your business is essentially a one-person operation, there’s an option to help you save more money for retirement: The Solo 401(k) plan. Ordinarily, traditional defined contribution retirement plans allow annual contributions that are limited to either 25% of salary […]

Many companies choose not to combine real estate and other assets into a single entity. Perhaps the business fears liability for injuries suffered on the property. Or legal liabilities encountered by the company could affect property ownership. But there are […]