Category Archives: Tax Tips

Count-Down: 2012 Year-End Business Tax Tips 7 & 8

Our year-end countdown continues for the next two of our top ten small business tax-saving tips to consider, while there’s still time in our four of five blog posts. 7. Distribute C Corporation Earnings and Profits: Shareholders recognize a taxable dividend to the extent the distribution is paid out of corporate earnings and profits (E&P). If the distribution exceeds E&P,… (more…)

Count-Down: 2012 Year-End Business Tax Tips 5 & 6

Our year-end countdown continues for the next two of our top ten small business tax-saving tips to consider, while there’s still time in our third of five blog posts. 5. Redeem a Shareholder’s Stock: A shareholder who wants the corporation to redeem some or all of his or her stock should complete the redemption by the end of 2012. Whether… (more…)

Count-Down: 2012 Year-End Business Tax Tips 3 & 4

Our year-end countdown continues for the next two of our top ten small business tax-saving tips to consider, while there’s still time in our second of five blog posts. 3.  Purchase Property Eligible for Section 179 Deduction: The maximum Section 179 deduction is $139,000 for eligible property placed in service in tax years beginning in 2012. This amount is reduced… (more…)

Count-Down: 2012 Year-End Business Tax Tips 1 & 2

Join us for the countdown of the top ten small business tax-saving ideas to consider-while there’s still time in our first of five blog posts. 1. Sell Corporate Stock, Partnership Interests, and LLC Interests: Gain or loss from the sale of a business interest is generally treated as capital gain or loss. Therefore, stock, and partnership and LLC interests, should… (more…)

IRS Offers Tax Tips for “The Season of Giving”

  December is traditionally a month for giving generously to charities, friends and family. But it’s also a time that can have a major impact on the tax return you’ll file in the New Year. Here are some “Season of Giving” tips from the IRS covering everything from charity donations to refund planning: Contribute to Qualified Charities.  If you plan… (more…)

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