by meesekhan | Apr 13, 2020 | 2020 Tax Information, Blog
When you operate a husband-wife partnership, you likely are paying far more than you need to pay in self-employment taxes. Here are three strategies that can reduce your self-employment taxes. Strategy No. 1: Use IRS-Approved Drill to Minimize Self-Employment Tax Hit...
by meesekhan | Apr 6, 2020 | 2020 Tax Information, Blog, CARES ACT COVID-18
Did you know that you may be able to take money from your IRA and other retirement accounts, avoid early withdrawal penalties, and have generous options on repayment (or not). We can also explain when you don’t have to take the required minimum distribution from your...
by meesekhan | Mar 30, 2020 | 2020 Tax Information, Blog, CARES ACT COVID-18
On March 27, 2020, President Trump signed into law the Coronavirus Aid, Relief, and Economic Security Act (CARES Act). The $2 trillion dollar stimulus is aimed at providing much-needed relief to the American people and businesses in response to the economic crisis as...
by meesekhan | Mar 23, 2020 | 2020 Tax Information
C corporations cause double taxation for business owners, so you probably think you want to avoid them at all costs. And for many of you, this is true, as the S corporation often provides the lower overall tax outcome. But for some business owners, the C corporation...
by meesekhan | Mar 16, 2020 | 2020 Tax Information
Husbands and wives often participate together in business ventures. “What are the tax implications of unincorporated husband-wife business activity?” you ask. Good question. Partnership Tax Status is Unfavorable for Husband-Wife Business when both members of a...
