Tax Services Corcoran CA

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.

H&R Block
(559) 229-0602
1109 WHITLEY AVE
CORCORAN, CA

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Liberty Tax Service
(866) 871-1040
1354 E Bardsley Ave
Tulare, CA

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H&R Block
(559) 587-2700
13992 ADA ST STE 203
ARMONA, CA

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Eladiorobles
(559) 925-1665
568 N 11 Avenue #28
Hanford, CA

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George Marwieh
125 W. El Portal, Suite A
San Clemente, CA
Company
Title: President
Company: M Advisory, LLC.
Type
Investment Advisor Rep: Yes
Registered Investor: Yes
Education
DeVry University/Bsc Electronic Engineering
Years Experience
Years Experience: 5
Service
Disability Insurance,Retirement Planning,Long-Term Health Care Planning,Annuity Ideas & Strategy Planning,Estate Tax Planning,Asset Protection Strategies & Planning,Hourly Financial Planning Engagements,Annuities,Alternative Asset Class Planning,Commission-Only Financial Planning (Full Disclosure),Planning For Personal Finances & Budgeting,Retirement Income Accumulation Planning,Individual Income Tax Planning,Life Insurance,Investment & Portfolio Management,Investment Consulting & Allocation Des

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Jackson Hewitt
(559) 222-0829
516 E. Tulare
Tulare, CA

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Smith Tax Service
(209) 685-8297
555 N Blackstone St
Tulare, CA

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Liberty Tax Service
(866) 871-1040
525 N 11th Ave
Hanford, CA

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Alexander Sordia
20501 Ventura Blvd
Woodland Hills, CA
Service
Business Succession & Liquidation Planning,Estate Tax Planning,Asset Protection Strategies & Planning,Wealth Engineering,IRA, 401k, Roth IRA, QDRO Rollovers,Individual Income Tax Planning,Wealth Management,Life Insurance,Investment & Portfolio Management,Annuity Ideas & Strategy Planning,Planning For Personal Finances & Budgeting,Retirement Income Accumulation Planning,Portfolio Engineering,401k Rollover From Employer,Business Income Tax Planning,Income for Life/ Preserve Principal,Health Care I

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Mr. Robert K. Jennings (RFC®), CHFC, CLU, CSA
(916) 551-1887
1860 Howe Ave Ste 106
Sacramento, CA
Company
Fountainhead Wealth
Qualifications
Education: BBA,Univ of Wisconsin,Madison
Years of Experience: 33
Membership
IARFC
Services
Invoice, Estate Planning, Business Planning, Portfolio Management, Pension Planning, Retirement Planning, Tax Planning, Seminars Work, Stocks and Bonds, Mutual Funds, Mortgage Loans, CD Banking, Annuities, Life Insurance, Disability Income Insurance, Long Term Care Insurance, Medical Insurance, Group Insurance, Charitable Planning, Education Plan, Compensation Plans

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Tax Saving Strategies

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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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