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Tax Planning

6Feb

Here are Three Tax Deferral Strategies for Capital Gains

By |February 6th, 2019|Categories: Capital Gains, Tax Planning, Tax Tips|

If the sale of business or investment property results in a gain, the gain is normally subject to tax in the year of the sale. However, there are opportunities to report a gain over several years, to postpone it by investing the proceeds into another property, or by simply investing the gain in a recently enacted investment vehicle.

23Jan

Seven Tax Tips to Start 2019

By |January 23rd, 2019|Categories: Tax Planning, Tax Reform|

The start of a new year is a great time to start fresh with your finances, especially when it comes to financial decisions that could have serious tax consequences. As 2019 begins, here are seven tax tips from a Boca Raton CPA that could save you money in the new year.

14Jan

Are Your Alimony Payments Deductible? Maybe

By |January 14th, 2019|Categories: Tax Deductions, Tax Planning|

Beginning in 2019 The Tax Cuts and Jobs Act made changes to the tax treatment of alimony. Learn if your finances will be impacted by these changes.

5Jan

IRS Announces 2019 Standard Mileage Rates

By |January 5th, 2019|Categories: Tax Deductions, Tax Planning, Tax Reform|

The IRS recently announced the 2019 optional standard mileage rates for business, medical and moving use. The rate for business use is based on an annual study of the fixed and variable costs of operating an automobile, while the rate for medical and moving purposes is based on variable costs only.

21Dec

Five Last-Minute Tax Savings Strategies

By |December 21st, 2018|Categories: Tax Deductions, Tax Planning, Tax Tips|

Just a reminder that the last day you can make a tax-deductible purchase, pay a tax-deductible expense, or make tax-deductible charitable contributions for 2018 is Dec. 31. Every taxpayer’s situation is unique, and the suggestions offered here may or may not apply to you.

23Nov

Start Your 2018 Year-End Business Tax Planning

By |November 23rd, 2018|Categories: Boca Raton, Tax Planning, Tax Reform|

As I’m sure you’re aware, the Tax Cuts and Jobs Act of 2017 (TCJA) was enacted at the end of last year. It’s the largest tax overhaul since the 1986 Tax Reform Act and will affect almost every business in the United States. In light of all the changes that took effect this year, it’s time for year-end business tax planning.

21Oct

Opportunity Zone Investments Create Tax Deferral Planning

By |October 21st, 2018|Categories: Capital Gains, Tax Planning|

Have you realized gain from the sale of an asset and want to defer paying the tax?  Opportunity Zone Investments may be the solution for you. If you have a large taxable gain from the sale of a stock, asset, or business and who would like to defer that gain with the possibility of excluding some of it from taxation you should investigate Qualified Opportunity Funds (QOF). 

12Sep

S Corporations Should Pay Reasonable Compensation To Shareholders

By |September 12th, 2018|Categories: Tax Deductions, Tax Planning|

Unlike a C corporation, which itself pays the tax on its taxable income, an S corporation does not directly pay taxes on its income; instead, its income, losses, deductions, credits and distributions are allocated to its shareholders’ on a pro rata basis.

28Mar

New Tax Law Doubles Estate Tax Exemption

By |March 28th, 2018|Categories: Tax Planning, Tax Reform, Tax Relief|

Leading up to the passage of the Tax Cuts and Jobs Act, there was considerable discussion about repealing the estate and gift tax. That didn’t happen!  But Congress did double the value of an estate that is excluded from being taxed,

9Nov

What Business Owners Should Know About The Tax Cuts And Jobs Act

By |November 9th, 2017|Categories: Tax Planning, Tax Reform|

This is part 2 of a 2-part series on the proposed Tax Cuts & Jobs Act and generally covers the provisions applying to small businesses and self-employed taxpayers.

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