Category: Tax Planning

There is still time to reduce the amount of taxes you pay, but you have to take the time to plan.  We have FREE resources to help you along the way. The “New” Tax Code: 9 Simple, easily overlooked tax …

A failure to plan is a plan for failure! Read More »

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The Tax Cuts and Jobs Act (TCJA) allows 100% bonus depreciation for qualified new and used equipment purchased and put into use in 2018.  This means you may be able to write off all of your assets placed in service …

You May Be Able to Write-Off ALL of Your 2018 Assets Read More »

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Ted Smith’s  “Real World” Personal Strategy Note One Example of Simple Tax Planning “What we know is a drop, what we don’t know is an ocean.” – Isaac Newton Too many folks wait until the winter before they look at …

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Health plans and finding the best tax deductions with the best possible health care is no easy task for small businesses. For example, if you are a 1099 business (sole proprietorship), you could have up to three choices for tax …

Bird’s-Eye View of Tax-Deductible Small-Business Health Plans Read More »

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New IRS 199A Regulations Benefit Out-of-Favor Service Businesses If you operate an out-of-favor business (known in the law as a “specified service trade or business”) and your taxable income is more than $207,500 (single) or $415,000 (married, filing jointly), your …

Tax-Savings Tips September 2018 Read More »

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Convert Your Personal Vehicle to Business and Deduct up to 100 Percent You probably like your personal vehicle just as it is. But wouldn’t you like it far better if it were producing tax deductions? Perhaps big deductions, immediately. And …

Ted’s Tax Saving Tips August 2018 Read More »

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The Problem: The Associated Press is reporting that the Trustees of the Social Security and Medicare program have released a report warning that Medicare will become insolvent three years sooner than projected earlier – in 2026 and Social Security will …

Breaking Social Security News! Insolvent Soon! Read More »

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As a sole proprietor, you know that the 15.3 percent self-employment tax can eat up your profits in a hurry. You may be able to use a simple strategy to ease this tax burden. If you own an office building …

Reduce Self Employment Taxes by Renting from your Spouse Read More »

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If you operate what you think is a business, but that business loses money, it may not be a business at all under the tax code. Such a money-losing activity can look like a tax shelter to the IRS, and …

Do Your Business Losses Make You an IRS Audit Target? Read More »

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Business Owners: How to Legally Reduce the Amount You Pay in Taxes using the New Tax Law that went into effect 1/1/2018.  Learn legal, court approved methods and strategies to reduce the amount you send Uncle Sam!  Wouldn’t you rather …

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