If you received a federal tax benefit from deducting state and local taxes as an itemized deduction in a prior taxable year and you recover all or a portion of those taxes in the current taxable year, you may need to include a portion of the recovery in gross income. We explain in this week’s Tax Tip.
Generally the incorporation of a business is tax free to both the shareholders and the corporation…that is until “boot” is involved. We explain in this week’s Business Tip.
We give a rundown of the most prominent tax benefits for members of the military in this week’s Tax Tip.
The “Money Talks” hosts examine the tax and planning issues related to receiving restricted stock as part of your compensation package.
Corporations should monitor their earnings and the types of income to detect potential exposure to the PHC tax. Read more in this Business Tip.
The tax code places limits on the amounts that individuals can gift to others without paying taxes. We explain in this week’s Tax Tip.
In today’s Marietta Daily Journal, Bil Lako, CFP® explains how businesses who are focusing on improving your processes to give them a competitive edge in the market place may benefit from the Research and Development Tax Credit. Read the article here Disclosures: The investments referenced within this article may currently be traded by Henssler Financial.…
If you’re about to apply the KonMari method to your tax paperwork – READ THIS FIRST! While it may not spark joy, you need to keep some tax paperwork in case of an audit. We explain in this week’s Tax Tip.
This week on “Money Talks,” your hosts are joined by special guest expert Rob Kling from Corporate Tax Advisors. With Rob, the experts discuss some of the specialized tax credits and deductions businesses can take, including research and development credits, cost segregation, and Section 179D.
We review the most frequently encountered fringe benefits, including those that were and were not impacted by tax changes, in this week’s Business Tip.
