Tax planning is an integral part of financial management One effective strategy to minimize your tax liability is income splitting. This process involves redistributing your earnings among family members in a way that leverages lower tax rates or takes advantage of tax credits available to certain individuals. In this blog you will learn about
Tag Archives: tax planning
29
Aug
Aug
Many times throughout the year our clients inquire as to when their tax returns are due or when their estimated tax payments are due. The chart below lists the 2021 filing dates and 2022 estimated tax payment dates for the returns that we frequently encounter. Find the pdf. for the table above here. If you
15
Aug
Aug
Prior to 2017, Meals and Entertainment related expenses were typically 50% deductible. In 2017, the Tax Cuts and Jobs Act, what is known as the Trump Tax Laws, changed that. In the image below we’ll walk through the new rules from 2018 through 2023: Prior to 2017 entertainment was 50% deductible. As you can see
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What do changes in depreciation rules mean for me in 2022-2023?
15
Jun
Jun
Most taxpayers have gotten very used to taking 100% bonus depreciation. Most of the time, people have been getting used to taking 100% bonus and writing off whatever they’re spending on capEx. This has been the case since the Tax Cuts and Jobs Act in 2017 – the Trump tax cuts. You may be thinking
