CTP

APRIL 21, 2025

Non-Profit NIL Collectives: Gunning for That Tax Exemption For new NIL collectives, qualifying as a nonprofit sounds like a best-case scenario. The organization would be exempt from income tax, meaning that all earnings could go toward the team.

Tax 52

Tax Non-Profits Sports income tax 52

CTP

SEPTEMBER 16, 2022

There are thousands of court-tested, law-abiding strategies that help the 1% avoid paying billions of dollars in taxes year after year, like the ProPublica article “The Secret IRS Files: Trove of Never-Before-Seen Records Reveal How the Wealthiest Avoid Income Tax.” Roth IRA contributions are not deductible.

tax planning 98

tax planning Tax tax return Education 98

CTP

JUNE 10, 2022

Since the sale has already occurred, these are taxed at an ordinary income tax rate, which taxpayers likely want to avoid since it can be as high as 37%. When the sale of a business results in capital gain, the entity can report this on its tax return using Form 1120-S ( U.S.

Sales 52

Sales Tax income tax tax return 52

CTP

MARCH 20, 2023

However, from a tax perspective, there are several significant drawbacks. For example, you may find yourself paying income taxes twice: once on the business side and again when you file your personal returns. You have choices when filing your tax returns, which means opportunities to keep your tax bill low.

Legal 52

Legal income tax tax return Tax 52

CTP

MARCH 20, 2023

However, from a tax perspective, there are several significant drawbacks. For example, you may find yourself paying income taxes twice: once on the business side and again when you file your personal returns. You have choices when filing your tax returns, which means opportunities to keep your tax bill low.

Legal 52

Legal income tax tax return Tax 52

inDinero Accounting

DECEMBER 1, 2023

Marketing An established B2B business might spend 10% of annual revenue on marketing, while a B2C business may spend 5%. If the business shuts down, any remaining un-deducted startup costs are fully deductible on the final year’s tax return. From here, your startup costs are amortized evenly over the next fifteen years.

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Start-ups Tax tax return B2C 52

CTP

NOVEMBER 23, 2023

One of the hidden benefits of setting up your business as a partnership is the ability to use special tax allocations. Because a partnership is a pass-through entity, income, losses, credits, and deductions “pass through” to the business owners who are taxed at personal income tax rates.

Tax 52

Tax tax return income tax tax planning 52