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Category: Deductions

The HSA: A healthy supplement to your wealth-building regimen

Posted on May 7, 2022May 9, 2022

A Health Savings Account (HSA) can be a powerful tool for financing health care expenses while supplementing your other retirement savings vehicles. And it offers estate planning benefits to boot. […]

Posted in Benefits, Deductions, Estate Planning, Healthcare, Insurance, Reporting, Retirement

Careful Planning Required For Beneficiaries To Borrow From A Trust

Posted on April 9, 2022April 8, 2022

Intrafamily loans allow you to provide financial assistance to loved ones — often at favorable terms — while potentially reducing gift and estate taxes. But what about families that lack […]

Posted in Deductions, Estate Planning, Lending, Personal Taxes, Planning, Retirement, TrustTagged Intrafamily loans

Fully Deduct Business Meals This Year

Posted on April 5, 2022April 5, 2022

The federal government is helping to pick up the tab for certain business meals. Under a provision that’s part of one of the COVID-19 relief laws, the usual deduction for […]

Posted in COVID-19, Deductions, IRS, Regulation, Small Business, TCJA (Tax Cuts & Jobs Act)Tagged business meal deductions, business meals, tax deduction for meals at work

Taking The Opposite Approach: Ways Your Business Can Accelerate Taxable Income And Defer Deductions

Posted on April 1, 2022June 17, 2022

Typically, businesses want to delay recognition of taxable income into future years and accelerate deductions into the current year. But when is it prudent to do the opposite? And why […]

Posted in Assets, Deductions, Small Business

Important Tax Aspects Of Operating Your Business As A Sole Proprietor

Posted on March 30, 2022

If you’re in business for yourself as a sole proprietor, or you’re planning to start a business, you need to know about the tax aspects of your venture. Here are […]

Posted in Deductions, Healthcare, Payroll, Planning, Records Retention, Regulation, Reporting, Small Business, Tax, WithholdingsTagged sole proprietors

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The articles in this blog are published with the understanding that the authors are not rendering legal, accounting or other professional advice or opinions on specific facts or matters, and, accordingly, assume no liability whatsoever in connection with its use.

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