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Filing Your Taxes: Things You Should Know

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Ladies and gentlemen, the tax game has changed for better or worse. Avoid getting taken by surprise by learning beforehand what has changed this year. Higher Income Blues If you make $400,000 as a single man or woman or $450,000 as a family, you will now be subject to a 39.6% tax rate. Furthermore, the cap on Medicare tax has been removed, meaning you need to pay an additional .9% tax rate even if you make over $200,000 as an individual or $250,000 as a family. Help For The Self-Employed […]

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Tax Planning and Your Business: A Few Tips

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Tax planning is almost a misnomer, because planning for your taxes is nearly impossible these days. It seems like things change every year, if not every month! Nevertheless, we pieced together some tips to help you along this year. Prepare For a Audit The best way to deal with an audit is to stay perpetually prepared for one. This involves properly archiving old records and keeping new ones on hand. There are a few key steps to keep in mind: Properly maintain your appointment book. Make sure you include all […]

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What Type of Corporation Should You Setup?

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Ready to step into the big leagues? Excellent! The first thing you must do is choose what type of legal structure you want your company to adopt. The choices are numerous. Sole Proprietorship Also known as a DBA (“Doing Business As”), a sole proprietorship is a business operated by a single person. It comes with several notable pros and cons. Pros Simplicity: It’s easy to set up and maintain. You just need to register a business name and then obtain any required permits. Less Paperwork: Since you are the only […]

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