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How To Maximize Social Security Income Benefits

  • 14 October 2014
  • Author: Cari Holbrook
  • Number of views: 1692
  • 0 Comments
How To Maximize Social Security Income Benefits
If you’re a working business owner and don’t need to take Social Security at 62 (the age at which eligibility kicks in), you’re better off delaying.  To put it simply: the longer you wait to receive Social Security benefits, the larger your monthly income from Social Security will be.  But how much more can you earn by waiting?

Is an S Corp Election Worth the Risk?

  • 23 September 2014
  • Author: Cari Holbrook
  • Number of views: 1723
  • 0 Comments
Is an S Corp Election Worth the Risk?
An S Corporation (S Corp) is by far the most popular type of corporation tax structure, according to the IRS. The reasons for its popularity are clear. S Corps are relatively easy to form and operate, provide limited liability, offer a single level of taxation, and require no self-employment tax on profits (which reduces double taxation). Are there any drawbacks?

Why You'll Never Get Ahead Relying on Tax Breaks

  • 9 September 2014
  • Author: Cari Holbrook
  • Number of views: 1681
  • 0 Comments
Why You'll Never Get Ahead Relying on Tax Breaks

“Just buy it. It’s tax deductible!” You’ve likely used this rationale for business indulgences in the past. However, you may be missing the point on tax deductions. The simple truth is that you’ll never truly get ahead by relying on deductions. Why? In order to earn deductions, you must spend money.

Deduct 'Unreasonable' Expenses? Yes, You Can!

  • 26 August 2014
  • Author: Cari Holbrook
  • Number of views: 1956
  • 0 Comments
Deduct 'Unreasonable' Expenses?  Yes, You Can!

Jerry is a business valuation specialist being brought in as an expert witness on a case in federal court. As a busy owner of an S Corporation, he’s decided to fly by private jet to his court appearance so that he can eliminate the time and hassle of a commercial flight. Can Jerry deduct this elaborate expense? 

Golden Handcuffs, Part 4: Can a Family Business Thrive With Only Passive Heirs?

  • 12 August 2014
  • Author: Cari Holbrook
  • Number of views: 1881
  • 0 Comments
Golden Handcuffs, Part 4:  Can a Family Business Thrive With Only Passive Heirs?

Welcome to Part 4 of our blog series on “Golden Handcuffs: Passing Down the Business to Heirs.” Over the past few months, we’ve discussed ways to pass down your family business to your heirs. Some heirs may be active in the business, others may be passive; this scenario holds many challenges. In this post, we look at ways you can meet these challenges.

Golden Handcuffs, Part 3: Can an Active Heir Buy Out a Passive Heir?

  • 22 July 2014
  • Author: Cari Holbrook
  • Number of views: 2008
  • 0 Comments
Golden Handcuffs, Part 3:  Can an Active Heir Buy Out a Passive Heir?
Welcome to Part 3 of our blog series on “Golden Handcuffs: Passing Down the Business to Heirs.” Over the past few months, we’ve discussed ways to pass down your family business to your heirs. Some heirs may be active in the business, others may be passive; this scenario holds many challenges.

Behind the New IRS Taxpayer Bill of Rights

  • 8 July 2014
  • Author: Cari Holbrook
  • Number of views: 1856
  • 0 Comments
Behind the New IRS Taxpayer Bill of Rights

The tax man cometh...to take a stand for taxpayer rights? Last month, the IRS announced a revised Taxpayer Bill of Rights in an attempt to correct a huge misperception: Forbes reports less than half of all taxpayers believe that they have any rights before the IRS; only 11 percent who know we have rights, know exactly what those rights are.

Tax-Saving Ways to Splurge On Employees

  • 24 June 2014
  • Author: Cari Holbrook
  • Number of views: 1978
  • 0 Comments
Tax-Saving Ways to Splurge On Employees

It’s often hard to compete with big business on salary and employee benefits when it comes to attracting great employees. But make no mistake: The quality of life one can receive working at a family-owned business is a bankable benefit. In fact, think creatively and you may come up with some unique “perks” that also happen to come with great tax savings to you or your employees. Here are some examples:

Golden Handcuffs, Part 2: Do Passive Heirs Deserve a Cut of a New-But-Related Business?

  • 10 June 2014
  • Author: Cari Holbrook
  • Number of views: 1500
  • 0 Comments
Golden Handcuffs, Part 2:  Do Passive Heirs Deserve a Cut of a New-But-Related Business?

Welcome to Part 2 of our blog series on “Golden Handcuffs: Passing Down the Business to Heirs.” Over the next few months, we’ll discuss ways to pass down your family business to your heirs. Some heirs may be active in the business, others may be passive; this scenario holds many challenges. In this post, we look at ways you can answer the question:  Do Passive Heirs Deserve a Cut of a New-But-Related Business?

Golden Handcuffs, Part 1: Should an Active Heir Receive a Bigger Piece of the Pie?

  • 27 May 2014
  • Author: Cari Holbrook
  • Number of views: 2182
  • 0 Comments
Golden Handcuffs, Part 1:  Should an Active Heir Receive a Bigger Piece of the Pie?
Welcome to Part 1 of our blog series on “Golden Handcuffs: Passing Down the Business to Heirs.” Over the next few months, we’ll discuss ways to pass down your family business to your heirs. Some heirs may be active in the business, others may be passive; this scenario holds many challenges.
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