For small business owners, minimizing tax liability is key to their financial health. This involves not just understanding current profits and losses but also anticipating future changes in tax...
Introduced in 2017 under the Tax Cuts and Jobs Act, the Section 199A deduction offers a significant tax break to pass-through entities. So, if you are a pass-through entity,...
The economic nexus is a tax collection criterion that significantly expanded the scope of sales tax obligations for businesses. Traditionally, a business needed to have a physical presence, like...
Depreciation provisions like Section 179 and Bonus Depreciation are great options for businesses to maximize their tax deductions. But what is the difference between these two? How can you...
When you are running a small business, it’s important to identify every opportunity to cut your operational costs. One of the best ways to do this is by utilizing...
If you are a high-net-worth individual, tax planning is a critical component in managing your wealth. You need to deploy effective tax strategies to retain and grow your wealth....
The Qualified Business Income Deduction (QBI) was introduced in the Tax Cuts and Jobs Act in 2017. It offers much-needed tax breaks to owners of pass-through entities. These entities...
Today, we’re diving deep into the ever-evolving world of estate taxes. Let’s face it, nobody likes to talk about taxes, but hey, they’re a crucial part of our financial...
When you are approaching the age of retirement, it’s critical to plan in advance. It will be a time when you might need more money, and most probably, your...