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The key to maximizing your tax savings is knowing the best ways to deduct business operating expenses to produce the very lowest taxable income. First, you’ll need to learn about deductible business expenses to understand how your business income is taxed. We’ve written about —and provided examples of— a handful of expense types, including the […]

What tax deductions can you take for the money you spend before opening the doors to your new venture? These costs are commonly referred to as start-up costs. The 3 Tax Rules Behind Start-up Costs There are three start-up tax rules to choose from, and one bonus rule. Run the numbers trying each of the […]

Small business owners and self-employed people are always looking for ways to maximize their tax savings. The key to legally cutting your business taxes to the bone is knowing the best ways to deduct business operating expenses to produce the very lowest taxable income. That’s the focus of this article. We’ll complete the picture with […]

Take it from one small business owner to another: Operating a business without the right tax knowledge is like skydiving without a parachute—certain to end in calamity. Many business failures stem from ignoring the record keeping and taxes. Like it or not, the government is always your business partner. Tax knowledge has powerful money-saving potential. […]

An EIN—also known as an employer identification number—is often used to identify an estate when there is an active probate. The EIN is provided by the IRS and should be obtained by the personal representative or executor once the letters testamentary or letters of administration have been issued. The EIN is necessary for the personal […]

Would you like to wipe your tax slate clean at an enormous discount? The IRS has accepted less than 1% of a tax bill and called it even. There is no legal right to ever have a valid tax bill reduced by the IRS. It is entirely a matter of government discretion whether or not […]

As an estate planning attorney, I see all the benefits a properly organized estate can offer on a daily basis. The benefits of estate planning aren’t likely as evident to others and I wanted to help share some information on what an estate plan is, the benefits it offers, and how to get started. What […]

A common question we get is what in the world is a Florida lady bird deed? A lady bird deed—also known as an enhanced life estate deed—is a type of deed that allows an individual to make sure that their property does not pass through probate to pass to their beneficiaries after death. Overview A […]