Archive for November 2024
Year-End Tax Planning Strategies: How to Save More Before December 31
2026 Tax Planning Year-End Tax Planning Strategies: How to Save More Before December 31 The tax return you file next year will report what happened during 2026. The opportunity to change many of those results, however, exists before December 31. Reviewing income, deductions, investments, retirement contributions and business activity before year-end can uncover planning opportunities…
Read MoreIs Christmas Lighting Tax Deductible?
Holiday Tax Planning Are Christmas Lights Tax Deductible? Before you cover the roof, storefront, office, trees, windows, and anything else that will hold still long enough in a few thousand twinkling lights, there is one tax question worth answering: can any of that holiday cheer actually become a business deduction? Christopher Olson, EA Approximately 9-minute…
Read MoreBrother-Sister Relationships: Understanding the Tax Code
Business Tax Planning Understanding Brother-Sister Relationships in the Tax Code Owning several businesses does not always mean the tax code treats each company as completely unrelated. Controlled-group rules can connect businesses through common ownership and affect retirement plans, employee benefits, deductions, tax thresholds, and other calculations. Here is how the brother-sister controlled group concept works…
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