Tax Planning Archives

Feb 06

Here are Three Tax Deferral Strategies for Capital Gains

By ectcg_admin 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…

Jan 14

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Are Your Alimony Payments Deductible? Maybe

By ectcg_admin 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.

Oct 21

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Opportunity Zone Investments Create Tax Deferral Planning

By ectcg_admin 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…

Sep 12

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S Corporations Should Pay Reasonable Compensation To Shareholders

By ectcg_admin 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.

Nov 09

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

By ectcg_admin 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.

Nov 08

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How Will The Tax Cuts And Jobs Act Impact You?

By ectcg_admin Tax Planning, Tax Reform

This is Part 1 of 2 in a series on the proposed Tax Cuts and Jobs Act. This part covers the provisions that apply to individual taxpayers. Part 2 covers the small-business provisions.

Nov 01

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Is Your Interest Expense Tax Deductible?

By ectcg_admin Tax Deductions, Tax Planning

When borrowing money taxpayers often ask if the interest will be tax deductible. The answer to the question can be complicated and you’ll learn that not all interest you pay is deductible. The rules for deducting interest depend on whether you use the loan proceeds for personal, investment, or business…

Mar 18

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Thinking of Selling Business or Investment Property? Consider a 1031 Exchange

By ectcg_admin Tax Planning

If you’re a business owner with highly appreciated business or investment real estate there is a tax planning strategy you should know about before you consider selling your property. It is a Section 1031 “like kind” exchange.

Oct 24

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Beware of the IRS Reclassifying Your S Corporation Distributions as Wages

By ectcg_admin Payroll Taxes, Tax Planning

If you run your business as an S corporation, you’re probably both a shareholder and an employee. Therefore, the company should pay you a salary for the work you do for the business, which is subject to payroll taxes as well as income tax withholding.

Jun 28

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5 Things You Need to Know About the Dependent Care Credit

By ectcg_admin Tax Planning

Do you pay to put your child or children in daycare or some other form of child care so you can work and earn a living for your family? If so, then you might be entitled to a tax credit when filing your tax return.

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Here are Three Tax Deferral Strategies for Capital Gains

Are Your Alimony Payments Deductible? Maybe

Opportunity Zone Investments Create Tax Deferral Planning

S Corporations Should Pay Reasonable Compensation To Shareholders

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

How Will The Tax Cuts And Jobs Act Impact You?

Is Your Interest Expense Tax Deductible?

Thinking of Selling Business or Investment Property? Consider a 1031 Exchange

Beware of the IRS Reclassifying Your S Corporation Distributions as Wages

5 Things You Need to Know About the Dependent Care Credit

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