May 2022 Donor-Advised Funds: A Tax Planning Tool for Church and Charity Donations

2021 Last-Minute Year-End General Business Income Tax Deductions

Your goal should be to get the IRS to owe you money .Of course, the IRS is not likely to cut you a check for this money (although in the right circumstances, that will happen), but you’ll realize the cash when you pay less in taxes. Here are six powerful business...
May 2022 Donor-Advised Funds: A Tax Planning Tool for Church and Charity Donations

October 2021 Taxation of 529 College Savings Account Withdrawals

The big advantage of 529 plans is that qualified withdrawals are always federal-income-tax-free—and usually state-income-tax-free too. What you may not know is that not all 529 withdrawals are tax-free qualified withdrawals, even in years when you have heavy college...
May 2022 Donor-Advised Funds: A Tax Planning Tool for Church and Charity Donations

August 2021 Don’t Miss Out on the Employee Retention Credit

It’s hard to imagine that a small business does not qualify for some or all of the employee retention credit(ERC). And remember, this is a tax credit—one of the very best things that tax law has to offer. True, it’s not as valuable as some other tax credits, because...
May 2022 Donor-Advised Funds: A Tax Planning Tool for Church and Charity Donations

June 2021 Benefit Big from the Work Opportunity Tax Credit

To be an eligible employee, your new hire must be certified as a member of a targeted group by the applicable State Workforce Agency (SWA). You, as the employer, can either   ·      obtain the certification by the day the employee begins work, or ·      complete...