30 Important Tax Tips You Must Know to Reduce Your Taxes! - #27 Understanding Your Tax Bracket
Tip #27 Understanding Your Tax Bracket. When filing your taxes it is important to know your income bracket and how much taxes you have to...
30 Important Tax Tips You Must Know to Reduce Your Taxes! - #26 Bad Debt Deduction
Tip #26 Bad Debt Deduction. As a business owner, you need to be aware that you can claim for bad debt expense as part of your deductions...
30 Important Tax Tips You Must Know to Reduce Your Taxes! - #25 Would PPP Cause You More Taxes??
Tip #25 Could PPP (Paycheck Protection Program) cause you more taxes? Most of you may have already known that PPP funds are not taxable...
30 Important Tax Tips You Must Know to Reduce Your Taxes! - #24 QBI Deductions
Tip #24 QBI. Qualified Business Income Deduction, also known as Section 199A, allows businesses to claim a tax deduction of up to 20% of...
30 Important Tax Tips You Must Know to Reduce Your Taxes! - #23 IRA Contribution
Tip #23 IRA Contribution. It is a retirement contribution to a traditional IRA account if you have active (earned) income. IRA...
30 Important Tax Tips You Must Know to Reduce Your Taxes! - #22 Bonus Depreciation
Tip #22 Bonus Depreciation. Having a hard time finding deductions to minimize your tax burden for 2020? Have you considered bonus...
30 Important Tax Tips You Must Know to Reduce Your Taxes! - #21 Net Operating Losses
Tip #21: Net Operating Losses. A Net Operating Loss (NOL) can benefit your tax position by carrying back these losses to offset your...
30 Important Tax Tips You Must Know to Reduce Your Taxes! - #20 R&D Tax Credit
Tip #20: R&D Tax Credits. Tax credit is a tax incentive that allows you to offset your tax liability dollar to dollar. However, it is...
Do You Deduct Your Car For Business Use?
If you own a business and use your vehicle for your business, you are entitled for auto deductions, which is important to reduce your...
