Business owners can establish SEPs for major tax savings If you work for yourself and have not yet set up a tax-favored retirement plan for yourself, you can establish a simplified employee pension (SEP). (Flower Mound Business Tax Reduction: Your 2020 Bill Can Still Be Cut Down) Unlike other types of retirement plans, a SEP can be made this year … Read More
Dallas Tax Advice: Cut Business Costs, Part 2
As part of an ongoing series on how you can cut business costs, we’re sharing a few more tips. Finding the right balance between what to spend and what to save is what an expert CPA can help you with. (Dallas Tax Advice: Cut Business Costs, Part 2) 1. Align Your Use Of Resources To Your Objective Ask yourself, “What … Read More
DFW Save Taxes: Don’t Be a Cheap Business Owner
Many business owners struggle to know the difference between smart financial decisions and blanket cost-cutting. (DFW Save Taxes: Don’t Be a Cheap Business Owner) While cutting costs may be great, it can also be fatal if done without careful consideration of your outcomes. Companies do not grow by cutting costs; they grow by increasing sales. If owners, in an attempt … Read More
DFW Business Tips: Saving Money on Insurance
The coronavirus has forced millions of people to shelter in place, closing thousands of businesses and leading many to institute work-from-home policies. For an even greater number of small companies — retailers, restaurants and others — this has meant layoffs and job loss. (DFW Business Tips: Saving Money on Insurance) Regardless of how long the impact of the global pandemic … Read More
Dallas Texas CPAs: Apply For PPP or EIDL Forgivable Loans
A wise man once said: Tough times never last but tough people do. And during these tough times you’ll need a tough CPA fighting for you and your small business every step of the way. Are you a small business owner who’s suffering steep economic losses due to the Corona Virus Disaster? Well, I’ve got good news for you! We’ve … Read More
Dallas Tax Savings: Super Business Write Offs
Many business owners try to save money anywhere they can. As a result, one area they should pay close attention to is tax deductions. Figuring out which business expenses you can deduct from your taxable income can save you big. Therefore, it’s important for small businesses to consult accountants and CPAs to ensure they’re maximizing their financial options. What are … Read More
Year-End Tax Moves For Successful Business Owners
While tax season may be months away, December 31st will be here before you can say “Jingle Bells.” The fourth quarter is the best time for some proactive tax planning to lower your tax bill. With extensions, you may be able to delay filing your 2019 taxes until late 2020. However, many tax-saving moves need to be made before the end … Read More
DFW Tax Pros: Save Your Business Money
How did you feel about making more money? (DFW Tax Pros: Save Your Business Money) You probably could achieve this by working harder, but what if you could be smarter with the money you earn now? Having more money by being smarter, rather than by working harder, is something you shouldn’t overlook. Tax planning is one way to work smarter. Tax planning is not just implementing … Read More
Dallas Tax Reduction: Avoiding Social Security Tax
Even though you’ve been paying Social Security taxes for years, you may not be able to escape Uncle Sam even after you claim benefits in retirement. (Dallas Tax Reduction: Avoiding Social Security Tax) It’s important to understand how taxes affect your benefits. For many of us, Social Security is a significant source of retirement income. In fact, roughly half of baby … Read More