What a great time of the year. The holidays are upon us, and tax season is right around the corner. Since there is still time to make any reporting changes needed before year end, those who are 2% or greater shareholders in an S- Corporation should be sure not to miss this item. As most […]
Read More… from Abbott Pratt Tax Talks: Health Insurance for S-Corp Owners
Year end is only a few weeks away and as a business owner, it may be most tax advantageous for you to accelerate deductions into the current tax year. One way of doing this is to charge last minute expenses on your business credit card. The business receives a deduction at the time the card […]
Having an associate buy into a company is often one of the most rewarding moments of the selling owner’s career. The Associate buy-in can take many forms, but one method we have advised and highly recommend is a staggered purchase of the following: Initial buy-in of 25% ownership 2nd buy-in at a later, predetermined date […]
The new 20% pass through deduc- tion can be a huge tax savings for many small businesses and their families. Get the conversation going now and strategize ways to take full advantage of this deduction! Our Pass Through Deduction Chart will help you focus your unique needs. [custom-button link=”https://granitepeakcpa.com/wp-content/uploads/2018/09/Abbott-Pratt-Blog-Mock-1.pdf”]Download Pass Through Deduction Chart[/custom-button] […]
Now is the time to be reviewing year to date earnings and fine-tuning year end income tax planning strategies. No one likes surprises, and as we have seen and discussed with clients, and as this article suggests, many taxpayers can be looking at unexpected liabilities come April 2019. Start the conversation now, so these next […]