Posts Tagged ‘Small Business’


7 Smart Year End Tax Planning Moves

 

1) Harvest Capital Losses

Capital gains property includes stocks, bonds and mutual funds.  Currently, the stated rate on long term capital gains is 15%.  If you have a net loss after netting all of your gains and losses, the tax deduction is limited to $3,000. Any excess capital losses can be carried into the future.


How to Get an IRS Civil Penalty Waived and Keep Your Small Business

Recently, we were able to get a $49,000 IRS civil penalty waived for one of our Connecticut business clients.  If we failed to get this penalty waived, this business would have closed its doors.


Overview of the Tax Provisions in the 2010 Small Business Jobs Act

The recently enacted 2010 Small Business Jobs Act includes a wide-ranging assortment of tax breaks and incentives for small business paid for with various revenue raisers. Here's a brief overview of the tax changes in the new law.


Why I No Longer Need The Yellow Pages Phone Book

This past weekend the Yellow Pages phone book was delivered to my home.  When I got to work the next morning, another one was on the front step.  At home, it never even made it into the house.  I just put it in the recycle bin in the garage.  I suspect I will do the same with the directory delivered to my office.


Three Things a Business Owner Needs to Calculate their Tax Credit for Health Care Premiums

The recent health care reform has allowed eligible businesses to claim a credit for premiums paid for health insurance. For 2010, the maximum credit is 35% of the employer's premium.


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