If you are a business owner, using corporations to help you reduce taxes and provide increased legal liability protection is a viable plan. Choosing which type of corporation depends on many factors, and some of those factors come down to the tax savings strategies. Here are a few to consider:
Tax Strategies for S-Corps
Here are a few tips for saving on taxes for your rental properties. Did you know that the Tax Cuts and Jobs Act created a 20% tax deduction possibility? A new "Safe Harbor" has also been made for Section 199A rental properties. If you've wondered how to handle multiple rental activities and the 199A deduction, you'll find information on that here, as well.
We all want what is best for our children. At an early age, we teach them to eat the right foods, we place them in the best preschools, we encourage them in grade school and high school, and we cheer them on when they excel in extracurricular activities.
Put another way, we want our children to succeed in all aspects of life.