Tax Services Bainbridge Island WA

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.

Mr. Warren B. Stickney (RFC®), LUTCF
(425) 462-6335
2050 112 Ave., NE 210
Bellevue, WA
Company
Stickney Research
Qualifications
Education: College and GraduateTax Summit annual Estate Planning Conference, The Strategic Coach, The Aspen Institute
Years of Experience: 24
Membership
IARFC, MDRT, Bar, NAIFA
Services
Invoice, Estate Planning, Business Planning, Portfolio Management, Trustee Service, Pension Planning, Executive Compensation Planning, Retirement Planning, Tax Planning, Family Offices, Stocks and Bonds, Mutual Funds, Annuities, Life Insurance, Business Coach, Charitable Planning, Charitable Foundations, Asset Protection, BuySell, Compensation Plans

Data Provided by:
Mr. Perry L. Smith (RFC®), CHFC, CLU
(425) 462-2072
800 Bellevue Way N.E. #400
Bellevue, WA
Company
Perry L. Smith Consulting, LLC
Qualifications
Education: Gonzaga U 1968-1970Eastern Wash U 1970-1972-BA American College-CLU-1982American College-ChFC-1989 NASD S7,S63,S24 - 1985RFC -1985Real Estate 1990Wealth Preservation Institute-CWAP & CAPP-2006 Golden Gate University -GGU - MS (Tax)
Years of Experience: 33
Membership
IARFC, FPA, SFSP
Services
Invoice, Estate Planning, Business Planning, Portfolio Management, Pension Planning, Executive Compensation Planning, personal Coach, Retirement Planning, Tax Planning, Employee Benefits, Stocks and Bonds, Mutual Funds, Mortgage Loans, Collectable Coins , Precious Metals, CD Banking, Annuities, Life Insurance, Disability Income Insurance, Long Term Care Insurance, Medical Insurance, Group Insurance, Business Coach, Charitable Planning, Healthcare Accounts, Charitable Foundations, Asset Protectio

Data Provided by:
Jim Black
16310 NE 80th St
Redmond, WA
Company
Company: Absolute Return Solutions
Service
401k Rollover From Employer,Income for Life/ Preserve Principal,Alternative Investments,Retirement Planning,Investment Consulting & Allocation Design,Insurance & Risk Management Planning,Retirement Income Distribution Planning,Individual Income Tax Planning,Pension for Highly Compensated Owners,Stock Market Alternative,Wealth Management,Annuities,Alternative Asset Class Planning,Business Succession & Liquidation Planning,Estate Tax Planning,Business Income Tax Planning,Fee-Only Comprehensive Fin

Data Provided by:
Eastside Tax And Accounting
(360) 373-6701
4171 Wheaton Way
Bremerton, WA
 
Pacific Tax Svc
(206) 783-6200
7000 15th Ave NW
Seattle, WA

Data Provided by:
Neal Broidy, MBA
10900 NE 8th Street
Bellevue, WA
Company
Title: President
Company: Senior Financial Consultants, Inc
Service
Stock Market Alternative,Wealth Management,Life Insurance,Investment & Portfolio Management,Long-Term Health Care Planning,Business Succession & Liquidation Planning,Estate Tax Planning,Asset Protection Strategies & Planning,Hourly Financial Planning Engagements,High Yield Bank Accounts,IRA, 401k, Roth IRA, QDRO Rollovers,CD Alternative,Medicaid,Retirement Planning,Real Estate Investment Planning,Annuity Ideas & Strategy Planning,Planning For Personal Finances & Budgeting,Retirement Income Accum

Data Provided by:
Mr. Douglas C. Nickson (RFC®), CSA, MBA
(425) 649-1925
4925 123rd Place SE
Bellevue, WA
Company
Nickson Secure Retirement
Qualifications
Education: MBA, MSCLS, RFC, CSA, CRFA, CEPS
Years of Experience: 11
Membership
IARFC
Services
Invoice, Retirement Planning, Tax Planning, Seminars Work, Annuities, Asset Protection

Data Provided by:
Freeman'S Tax Service
(360) 692-9941
15 Doncee Dr Nw
Bremerton, WA
 
Mks Tax Service
(360) 674-8161
740 Roswell Dr
Bremerton, WA
 
H&R Block
(206) 363-3105
915 NW 45TH ST
SEATTLE, WA

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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