Being a business owner comes with a number of substantial benefits: being your own boss, pursuing your passions, controlling the growth of the company. One benefit that’s often overlooked is the ability to use a business as a completely legal tax shelter. By taking advantage of tax strategies designed to protect business owners, you can […]
Financial
-
-
Before borrowing any money, especially from the government, you need to remember to always read the documentation involved to be sure you know all the ins and outs to what you are agreeing to. This is even more important when borrowing through the Small Business Administration’s (SBA Economic Injury Disaster Loan (EIDL) program. The EIDL […]
-
Here are seven powerful business tax deduction strategies that you can easily understand and implement before the end of 2020. 1.Prepay Expenses Using the IRS Safe Harbor – You just have to thank the IRS for its tax-deduction safe harbors. IRS regulations contain a safe-harbor rule that allows cash-basis taxpayers to prepay and deduct qualifying […]
-
The Temecula Valley Chamber of Commerce will host the 2020 Legislative Summit on December 1, 2020 from 8:00am-9:30am. It will be presented virtually as a Zoom webinar and there is no cost to attend. The Summit is the Chamber’s premier advocacy event with presentations by legislative and policy experts, as well as elected and appointed […]
-
With the end of the year fast approaching, it’s time to dissolve any inactive business to avoid having to pay extra fees and paperwork for 2021. When a business entity is no longer needed, has completed its business dealings, has completed its job in a foreign State, or even if it was never used for […]
-
With the end of tax preparation season for calendar businesses and individuals, you either complied and filed by the September 15 and October 15 Extension deadline or are delinquent, regardless of your choice, the common discussion during this period has been: “How can I save on taxes?” Some people had favorable results, and some did […]
-
If You’re Considering Moving to a Different State, Taxes in the New State may be the Deciding Factor Especially if you expect them to be Lower Consider All Applicable State and Local Taxes – If your objective is to move to a lower-tax state, it may seem like a no-brainer to move to one that […]
