Exploring Essential Aspects of Tax Planning and Consulting
In the realm of tax planning and consulting, real-life scenarios often present complex challenges that require careful navigation. Take, for instance, a situation where a client finds themselves entangled in potential restaurant sale negotiations. Amidst the uncertainties surrounding potential buyers
The SBA is out of Money – Now What?
So if you didn’t get the PPP, what other options do you have? Well, quite a few actually. Take a look.
Car Guy
I’m a shop guy. I’ve spent my entire life in the automotive industry. Some of my earliest memories are running around my dad’s shop in diapers. I grew up in that auto body shop, working there on summer and winter breaks
What to Look Out for if You Took Government Aid
Your 2020 Taxes: What to Look Out for if You Took Government Aid Reducing taxes is complicated – who doesn’t cringe at the thought of tax season?! – but the 2020 tax season is shaping up to be one for the
R&D Credits for Auto Body
3 Ways Your Auto Body Business Can Get Tax Credits Normally Reserved for High-Tech Companies Maybe you don’t know much about Research & Development (R&D) tax credits – though they have been around since 1981, they have been growing in popularity
Next Crash
Are You Ready for the Next Market Crash? The Coronavirus Crash of 2020 took us all by surprise – many people and businesses are still recovering from the financial crisis resulting from COVID-19. With fears running rampant, we’re all wondering the
Lower Capital Gains Tax
Three Ways to Reduce or Defer Capital Gains Taxes Capital gains are a real pain in the taxes! While capital gains are taxed differently than income, the rate at which they’re taxed ranges from 0% all the way up to 37%,
Biden Tax Changes
Change in Administration, Change in Tax Policy? With Biden set to take office on January 20th, you’re probably starting to worry about the incoming administration’s tax policy and how it could impact your shop – and since some small businesses could
Employee Tax Deferral
Considering Deferring Your Share of Your Employees' Social Security Tax? Social security taxes are among the biggest tax burdens faced by employers and employees alike, with both of you paying the IRS 6.2%, for a total tax rate of 12.4%. Since
Buying a Company Vehicle
Avoid These 3 Common Mistakes When Buying a Company Car Purchasing a company car allows you to claim a variety of tax benefits, such as deductions for gas mileage and insurance, but before you commit yourself to such a major investment,