CTP

DECEMBER 2, 2024

Many tax planners offer audit support as an add-on service. Working with someone who is already exceedingly familiar with your tax return—and in fact crafted the logic behind it—can save you an immense amount of time and money. The post Help, I’m Being Audited!

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CTP

MARCH 21, 2025

This means that each person can receive the items that are most helpful for their personal tax situation. Now with most tax planning strategies, the company needs a bona fide business purpose for claiming a benefit.

Tax 52

Tax Maine tax planning Legal 52

CTP

JUNE 24, 2022

As part of the tax planning process, business owners looking to sell their S corporation first need to establish whether they are selling the stock or the assets of the business. What is the difference from a tax perspective?

Tax 98

Tax Non-Profits tax planning Sales 98

CPA Practice

JANUARY 23, 2024

For example, maybe you can work with a financial planner to host a tax planning workshop and share your knowledge. Over 70% of B2C marketers leverage content marketing. You may also want to consider co-hosting or partnering with others to host events and webinars. It’s an opportunity to have a voice in the industry.

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CPA Practice

JANUARY 22, 2024

For example, maybe you can work with a financial planner to host a tax planning workshop and share your knowledge. Over 70% of B2C marketers leverage content marketing. You may also want to consider co-hosting or partnering with others to host events and webinars. It’s an opportunity to have a voice in the industry.

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Account accountant accounted B2C 69

CTP

MARCH 2, 2022

Let us help you plan for the future and eliminate the stress factor with an estate tax planning consultation. [1] Your business success should be nothing but a cause for celebration for you and your beneficiaries. 2020-45, Sec.41. 2] IRC § 2010(c)(3)(C). [3] 3] IRC § 2503(b). [4] 2020-45, Sec.43. 5] IRC § 2505(a)(1). [6]

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income tax Tax tax planning tax return 97

FusionCPA

SEPTEMBER 27, 2020

It allows for fluid flow of sales data from a website, to live inventory management, to customer centers (ideal for B2B wholesale and B2C customers), to transparency into all of your financials. As more business is moving to E-commerce, it has become a growing platform as the basis for e-commerce organizations.

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NetSuite E-commerce B2C B2B 52

CTP

NOVEMBER 9, 2023

Planning for retirement also means planning for retirement income taxes. Creating a tax plan for retirement will ultimately allow you to spend less money on taxes and put more toward the lifestyle you want. With either strategy, the key is to manage your tax brackets by creating a proactive tax plan.

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Tax income tax tax planning tax accountant 52

CTP

NOVEMBER 2, 2023

The percentage of your retirement income that gets redistributed to taxes could considerably impact your quality of life during retirement—if you don’t have a plan in place. Formulating a tax plan for retirement allows your funds to stretch much farther than they would have otherwise.

Tax 52

Tax tax planning Real Estate Sales 52

CTP

JULY 20, 2023

This can be tricky since the threshold is a moving target—you can use tax software to calculate the “tentative minimum tax,” which is equal to: [Taxable income based on AMT rules – AMT exemption] x AMT tax rate – AMT foreign tax credit But the key is to factor AMT into your tax plan throughout the year.

Tax 52

Tax tax planning income tax Sales 52

CTP

OCTOBER 2, 2023

This article aims to provide a “Tax Credits 101” overview of what tax credits are, how these credits can differ, and how to claim them. For a more nuanced look at which tax credits you might qualify for, reach out to a Certified Tax Planner to start building a customized tax plan.

Tax 52

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CTP

JUNE 10, 2022

This can lead to overlooking one key part of the sales process: tax planning. The decisions you make in structuring the sale will have a direct effect on later tax implications and how much of a profit you actually end up making.

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Sales Tax income tax tax return 52

CTP

APRIL 15, 2022

For instance, how do you determine if a tax planner is charging a reasonable fee? Taxpayers will first want to understand the difference between reactive tax work and proactive tax planning. Another example of an unconscionable fee is if a tax preparer were to take the fee but not do any of the work.

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tax preparation Tax tax return tax planning 52

CTP

NOVEMBER 16, 2023

Instead, the startup can use the special tax allocation to create an attractive investment package and bring in more capital. Overall, special tax allocations are a valuable tax planning tool that allows partnerships to direct tax benefits and consequences where they want them to go.

Non-Profits 52

Non-Profits Tax income tax tax planning 52

CTP

JULY 27, 2023

Summary Financial losses can end up providing a benefit when it comes to tax planning. With some advance planning, loss harvesting and loss carryovers can be leveraged to lower your tax bill in years when you have more income coming in from other sources. Again, timing is key to make these strategies work for you.

Tax 52

Tax tax planning Sales Start-ups 52

CTP

MAY 10, 2023

Taxpayers sometimes make the Section 179 election on their tax returns and don’t even realize the deduction has been suspended—that they didn’t receive the benefit that tax year. This can unfortunately affect tax planning down the road. As with all tax planning, thinking through a strategy in advance is the key.

Tax 52

Tax tax planning Maine tax return 52

CTP

APRIL 29, 2022

When tax professionals prepare a tax return, they are typically aiming for the return to be correct “beyond a reasonable doubt.” Taxpayers may assume this is a black-and-white matter—but when it comes to tax planning, almost nothing can be dubbed “always correct” or “always incorrect.

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CTP

JANUARY 11, 2023

Certified Tax Planners are proactive, searching for and helping you qualify for as many tax reduction strategies you are legally eligible for, not just the ones you are using now. They don’t just report your taxes, they actively REDUCE them. The post GoFundMe Receipts and IRS Rules appeared first on Certified Tax Coach.

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Legal Tax tax planning audit 52

CTP

DECEMBER 8, 2022

However, if you are a real estate broker who is paid commission every time you represent someone in buying or selling a home, the IRS will consider rental income to be “earned income,” and you will have to pay self-employment taxes. Lastly, depreciation can be a major tax planning tool.

Real Estate 52

Real Estate Tax tax return tax planning 52

CTP

AUGUST 3, 2023

If you are holding an asset as an investment through your pass-through business, when you sell that asset it is recorded as capital income and then reported on your personal tax return as the owner. Taxpayers who began their careers more recently often have a lower income and can often benefit from the 0% rate.

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Tax income tax tax return tax planning 52

CTP

NOVEMBER 23, 2023

Remember that it is possible to adjust the agreement to match your tax allocations—with the help of an attorney who is well-versed in tax law. Partnership entities can be worthwhile just because of this flexible tax planning option that allows each partner to receive the gains and losses they need.

Tax 52

Tax tax return income tax tax planning 52

CTP

OCTOBER 2, 2023

Ensuring that you qualify for these tax credits can be a straightforward process if you understand the most recent requirements and factor these credits into your overall tax plan. To stay on top of tax saving strategies this year, enlist the help of a Certified Tax Planner.

Tax 52

Tax Non-Profits tax planning Gaming 52

CTP

OCTOBER 18, 2022

Certified Tax Planners are proactive, searching for and helping you qualify for as many tax reduction strategies you are legally eligible for. They don’t just report your taxes, they REDUCE them. Secure maximum savings for your taxes by getting a personalized tax plan from your local Certified Tax Planner. .

Real Estate 52

Real Estate Tax tax planning Legal 52

CTP

NOVEMBER 25, 2022

While there is no federal tax deduction for your contributions to a 529 plan, the income your savings generates isn’t subject to federal taxation. More Ways to Maximize Your Tax Savings. A Certified Tax Planner is trained to help you harvest all of your tax benefits and will comb through your financial life to find them.

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Education Tax accounting and finance Michigan 40

CTP

NOVEMBER 21, 2024

Investing in a tax plan can feel like a risk for taxpayers who are used to filing their own tax returns or focusing on basic compliance. In theory, you may see the benefits of a proactive approach where you implement strategies that will result in tax savings years down the line.

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tax planning Tax tax return tax preparation 52

CTP

MARCH 28, 2025

The Tax Cuts and Jobs Act (TCJA) introduced a number of provisions that reduced taxes for many small businesses. Some provisions are currently scheduled to expire at the end of 2025, but others are considered permanent and could be factored into your business next tax plan.

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accounting principles financial statements Tax tax planning 52

CTP

JANUARY 24, 2025

This makes for a great tax planning strategy. For the business owner, contributing to a 401(h) can provide a significant deduction when it comes time to sell the business, and you are looking to reduce that capital gains tax.

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