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What Salary Should You Pay Yourself As An S-Corporation?

Understand the right amount to pay yourself as an S Corporation and avoid unnecessary hassle of payroll taxes.

Claiming a Federal Tax Deduction for Moving Costs

Summer is a popular time to move, whether it’s so the kids don’t have to change schools mid-school-year, to avoid moving in bad weather, or simply because it

3 Breaks for Business Charitable Donations You May Not Know About

Donating to charity is more than good business citizenship; it can also save tax dollars. Here are three lesser-known federal income tax breaks for charitable donations made by

Pay Attention to the Details When Selling Investments

The tax consequences of selling an investment, as well as your net return, can be affected by a variety of factors. You’re probably focused on factors such as

Dot the “I’s” and Cross the “T’s” on Loans Between Your Business and Its Owners

It’s common for closely held businesses to transfer money into and out of the company. This often takes place in the form of a loan. However, the IRS

Coverdell ESAs: The Tax-Advantaged Way to Fund Elementary and Secondary School Costs

With school letting out you might be focused on summer plans for your children (or grandchildren). But the end of the school year is also a good time

Choosing the Best Way to Reimburse Employee Travel Expenses

If you have employees that incur work-related travel expenses, you can better attract and retain the best talent by reimbursing these expenses. But to secure tax-advantaged treatment for

Consider the Tax Consequences Before Making an Employee a Partner

In today’s competitive environment, offering your employees an equity interest in your business can be a powerful tool for attracting, retaining and motivating quality talent. However, if your

Donating a Vehicle Might Not Provide the Tax Deduction You Expect

All charitable donations aren’t created equal. Some of them provide larger deductions than others. How much or even what you donate isn’t always what matters. How the charity

A “Back Door” Roth IRA Can Benefit Higher-Income Taxpayers

One of the potential downsides to tax-deferred saving through a traditional retirement plan is that you’ll have to pay taxes when you make withdrawals at retirement. Roth plans,

Business Owners: When It Comes to IRS Audits, Be Prepared

If you filed your 2016 income tax return in April, rather than filing for an extension, you may be wondering if it’s likely your business could be audited

Real Estate Investor vs. Professional: Why It Matters

Income and losses from investment real estate or rental property are passive by definition — unless you’re a real estate professional. Why does this matter? Passive income may

Want to Help Your Child (or Grandchild) Buy a Home? Don’t Wait!

Mortgage interest rates are still at low levels, but are likely to increase as the Fed continues to raise rates. So if you’ve been thinking about helping your