The Basics of State Tax Planning The first step to turning your state tax exposure into state tax opportunity is to identify the states you or your entities may be required to file state tax returns.Keywords:
Tom Wheelwright, Property, Filing, Income, laws, requirements, tax, CPA, opportunities, savings, minimize The 2 Questions Every Business Owner Needs to Know How to Answer Leverage in a business comes from many sources. But the most important source is the business systems. The first key to building a profitable and valuable business is to create the proper systems to run the business. Then, the owner can spend his or her time managing the systems instead of managing the people.Keywords:
Tom Wheelwright, money, Business, Profit, leverage, managing, systems, reports, produce, building, income 3 Ideas for Business Financing in a Tough Market The form of leverage most people are familiar with is a loan, which is a way to leverage your assets. Leverage in this case may be a mortgage on a piece of property or a line of credit in your business.Keywords:
Tom Wheelwright, Leverage, Credit, Business, Taxes, reduce, tax, Strategy, success, wealth, financing An Opportunity to Convert to a Roth IRA in 2010 2009 is the Time to Start Your Planning If you plan on converting, then now is the time to start planning because your 2009 tax planning may look a little different. For example, you may want to defer deductions until 2010 and accelerate income into 2009 to avoid being pushed into higher brackets in 2010, 2011 or 2012 from large conversion income.Keywords:
Tom Wheelwright, Taxes, Roth, IRA, taxpayers, eliminate, wealth, strategy, tax, income, K 3 Ways Partnerships Give Your Tax Strategy Maximum Flexibility When the business starts, the owners have a profit sharing structure in mind, let's say it's 50/50. Then, a few years down the road, the owners have a need to change their profit sharing structure - maybe their roles have changed or perhaps one wants to work less.Keywords:
Tom Wheelwright, Business, structure, Tax, strategy, flexibility, partnership, corporation, assets, estate, benefit 2 More Reasons for Estate Planning You've probably heard a lot about the probate process, but have you ever heard anything good about it? Most probate stories are nightmare stories. Probate can be expensive, it's a public process and it can be contested.Keywords:
Tom Wheelwright, planning, estate, Probate, investors, strategy, cash, flow, business, successful, assets Why Having No Estate Tax May Not Be a Good Thing I would ask myself why my estate isn't big enough to be taxable. I would wonder why the wealth I've created is so small that the government isn't even interested in taxing it.Keywords:
Tom Wheelwright, tax, estate, planning, Wealth, strategy, reduce, reducing, minimize, CPA, accountant Deducting Your Seminar Expenses This is an area of the tax law that is a prime example of how increasing your knowledge, can decrease your risk. In this case, it can decrease the risk of overpaying your taxes and decrease the risk of having to pay more tax (and penalties and interest) if you are audited.Keywords:
Tom Wheelwright, Risk, audit, IRS, Expenses, focus, deductible, Strategy, tax, develope, interest Year-End Checklist for Rental Real Estate Real estate is also one of the most complex areas of the tax law. This makes it easy to overlook important steps, which can lead to missing out on tremendous tax savings.Keywords:
Tom Wheelwright, real, estate, benefits, Checklist, tax, wealth, depreciation, property, investors, business Applying the New Tax Law to Your Taxes With the end of the year just around the corner, the new law may provide you with additional tax saving opportunities. In this report, I'll share the 2 most popular tax breaks in the new law and how they apply to your taxes.Keywords:
Tom Wheelwright, law, taxes, tax, credit, homebuyer, opportunity, loan, business, cash, flow Year-End Tax Planning Tips You May Want to Avoid The best plan of attack is to identify tax saving strategies that work with your personal goals, your business goals and your financial goals for the long-term.Keywords:
Tom Wheelwright, plan, strategies, goals, tax, planning, save, business, wealth, financial, benefits More Year-End Checklist Items for Business Owners and Investors Tax planning that creates permanent tax savings by eliminating tax is my absolute favorite type of tax planning. The home office deduction is another great example of this.Keywords:
Tom Wheelwright, CPA, Tax Planning, deductions, savings, expenses, reports, permanent, strategy, business, legal Every Day is an Opportunity to Reduce Your Taxes The items you purchase may be business deductions! Keep in mind that in order for an item to be deductible in your business it must have a business purpose and be ordinary and necessary in your business.Keywords:
Tom Wheelwright, business, taxes, tax, deductions, reduce, requirements, planning, strategy, year, round How to Capture the Opportunities to Reduce Your Taxes Bookkeeping is a fantastic and powerful tool when it comes to reducing your taxes. Remember, our taxes are impacted any time we receive or pay money.Keywords:
Tom Wheelwright, bookkeeping, expenses, reduce, taxes, strategy deduction, business, travel, money, personal
[1][2][3][4][5][6][7]
