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Tax Services Allen TX

There are plenty of business tax savings in the system without resorting to illegal strategies that can come back to bite you. Stay away from tax evasion schemes. Here are a few legitimate strategies you can implement now.

Michael David Kolacz (RFC®), CEP, LUTCF
(972) 404-9300
6860 N Dallas Pkwy Ste 200
Plano, TX
Company
Chase Warner Financial, LLC
Qualifications
Years of Experience: 28
Membership
IARFC, MDRT, FPA, SFSP, NAIFA, NICEP
Services
Invoice, Estate Planning, Business Planning, Portfolio Management, Pension Planning, Executive Compensation Planning, Retirement Planning, Medicaid Planning, Tax Planning, Tax Returns, Seminars Work, Employee Benefits, Stocks and Bonds, Mutual Funds, Mortgage Loans, CD Banking, Annuities, Life Insurance, Disability Income Insurance, Long Term Care Insurance, Medical Insurance, Group Insurance, Education Plan, Healthcare Accounts, Asset Protection, BuySell, Compensation Plans

Data Provided by:
Kris Maksimovich
18170 Dallas Pkwy.
Dallas, TX
Company
Title: President
Company: Global Wealth Advisors
Type
Investment Advisor Rep: Yes
Registered Investor: Yes
Education
Missouri State/Finance
University of TX/Finance
Texas Tech/Finance
Years Experience
Years Experience: 25
Service
Medicare Planning,Health Care Insurance,Retirement Planning,Real Estate Investment Planning,Commission-Only Financial Planning (Full Disclosure),Insurance & Risk Management Planning,Retirement Income Distribution Planning,Education Funding & Financial Aid Planning,Hourly Financial Planning Engagements,Disability Insurance,Annuities,Alternative Asset Class Planning,Investment Consulting & Allocation Design,Business Succession & Liquidation Planning,Estate Tax Planning,Asset Protection Strategies

Data Provided by:
Mrs. Lisa Dionne Randle (RFC®), EA
(214) 526-3335
12770 Coit Rd Ste 708
Dallas, TX
Company
Waddell and Reed
Qualifications
Years of Experience: 5
Membership
IARFC
Services
Invoice, Estate Planning, Business Planning, Portfolio Management, Pension Planning, Executive Compensation Planning, Retirement Planning, Tax Planning, Tax Returns, Seminars Work, Stocks and Bonds, Mutual Funds, Annuities, Life Insurance, Disability Income Insurance, Long Term Care Insurance, Education Plan, Healthcare Accounts, Asset Protection, BuySell, Compensation Plans

Data Provided by:
John E. Lee (RFC®), CFP
(214) 808-7063
10907 Gable Drive
Dallas, TX
Company
John Lee Agency
Qualifications
Education: CFPRFC
Years of Experience: 35
Membership
IARFC
Services
Invoice, Estate Planning, Business Planning, Portfolio Management, Trustee Service, Pension Planning, Executive Compensation Planning, personal Coach, Retirement Planning, Medicaid Planning, Tax Planning, Tax Returns, Seminars Work, Employee Benefits, Stocks and Bonds, Mutual Funds, Mortgage Loans, CommOptions, Collectable Coins , Precious Metals, CD Banking, Annuities, Life Insurance, Disability Income Insurance, Long Term Care Insurance, Medical Insurance, Group Insurance, Auto Home Insurance,

Data Provided by:
Liberty Tax Service
(866) 871-1040
3200 14th St # 404
Plano, TX

Data Provided by:
Mr. Jack Shea (RFC®), MBA
(972) 596-6730
6407 Villa Road
Dallas, TX
Company
Shea WealthCare
Qualifications
Education: Bachelor of Science, Business and Economics, University of Dayton, OhioMasters in Business Administration, Management, Xavier University, Ohio
Years of Experience: 26
Membership
IARFC
Services
Invoice, Estate Planning, Business Planning, Portfolio Management, Pension Planning, Executive Compensation Planning, Retirement Planning, Tax Planning, Seminars Work, Mutual Funds, Annuities, Life Insurance, Disability Income Insurance, Long Term Care Insurance, Medical Insurance, Education Plan, Asset Protection, Compensation Plans

Data Provided by:
Roger Asel
5485 Belt Line
Dallas, TX
Company
Company: Certified Financial Strategies Corp.
Type
Registered Investor: Yes
Education
SMU - BBA Major in Accounting
Years Experience
Years Experience: 30
Service
401k Rollover From Employer,Income for Life/ Preserve Principal,Alternative Investments,Retirement Planning,Real Estate Investment Planning,Annuity Ideas & Strategy Planning,Planning For Personal Finances & Budgeting,Retirement Income Accumulation Planning,Individual Income Tax Planning,Pension for Highly Compensated Owners,Stock Market Alternative,Wealth Management,Annuities,Alternative Asset Class Planning,Investment Consulting & Allocation Design,Insurance & Risk Management Planning,Retiremen

Data Provided by:
Alan D. Pepperdine (RFC®), CPAPFS, CSA
(972) 241-4170
14445 Webb Chapel
Dallas, TX
Company
Cornerstone Retirement Group, LLC
Qualifications
Years of Experience: 18
Membership
IARFC, SCSA, AICPA
Services
Invoice, Business Planning, Retirement Planning, Tax Planning, Tax Returns, Seminars Work, Annuities, Life Insurance, Long Term Care Insurance

Data Provided by:
H&R Block
(972) 424-5013
1120 E PARKER STE 103
PLANO, TX

Data Provided by:
Walker Ruth Ann CPA
(972) 529-3828
Po Box 1748
Mckinney, TX

Data Provided by:
Data Provided by:

Tax Saving Strategies

Provided By: 

It's Not What Your Business Makes That Counts — It's What You Get To Keep!
By Patrick Astre

There are two things in life you don’t want to watch closely as they’re made; the first is sausages, the second is tax laws. While death and taxes are inevitable, death doesn’t get worse every time Congress meets. The constant push-pull of special interests, partisan, and “pork barrel” politics left us with an income tax system that is convoluted and overly complex.

There are a great number of tax-saving opportunities available to business owners. Sad to say, many of these opportunities are not well known and often ignored even by tax planners, CPAs and attorneys. By not using them, you will have “volunteered” to pay more taxes.

Let’s get one thing out in the open at the get-go: Everything this article covers is legal, audit-tested, and rooted well within the IRC (Internal Revenue Code.) So let’s get started so you can keep more of that hard-earned money from your business.

There are plenty of business tax savings in the system without resorting to illegal strategies that can come back to bite you. Stay away from tax evasion schemes. Here are a few legitimate strategies you can implement now:

• Rent part of your home to your business. Many business owners use part of their homes for business, second office, storage, etc., and yet those expenses are not deducted. Determine the portion of your home that is used for business, and rent it to your corporation or LLC. Rent should be reasonable and average for your area. You must report the income on Schedule E of your personal tax return (1040), but you will apply a percentage of deductions against that income such as utilities, home insurance, maintenance, and depreciation, etc. that you cannot use otherwise.

• Don’t fear the home office deduction. If you operate as a sole proprietor, you cannot rent part of your home to yourself; however, you can use the home office deduction. A court ruling in the late ‘80s resulted in that deduction being outlawed and denied to many businesses. Legislation two years later overturned this ruling and restored the deduction. Home office deductions are legitimate and allowed by the IRC. As in all deductions, be sure to keep documentation to back it up.

• Don’t neglect business use of your automobile. Simply because you don’t use your car often in your business, it doesn’t mean you shouldn’t deduct the amount that you do use. Keep a log of your business mileage, reimburse yourself by using the IRS mileage rate, and deduct it on your business tax return. Do not include commute to and from your business, and make sure to document the business reason for auto usage.

• Make your spouse part owner (shareholder) of your Sub S Corporation. A recent tax court ruling held that any money paid sole shareholders of “S” corporations from the business must be taken as payroll. That’s because “S” distributions are not subject to payroll taxes, and the...

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