Tax Services Gettysburg PA

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
(717) 642-8011
11 W MAIN ST
FAIRFIELD, PA

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Liberty Tax Service
(866) 871-1040
470 Eisenhower Dr # 6
Hanover, PA

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Strausbaugh, Charles L., CPA, PC
(717) 765-8515
45 Walnut Street
Waynesboro, PA
 
Morris F. Licciardello (RFC®), CSA
(215) 947-9190
380 Red Lion Road
Huntingdon Valley, PA
Company
Valley Financial Group
Qualifications
Education: BS
Years of Experience: 11
Membership
IARFC
Services
Invoice, Estate Planning, Portfolio Management, Retirement Planning, Tax Planning, Tax Returns, Stocks and Bonds, Mutual Funds, Mortgage Loans, CD Banking, Annuities, Long Term Care Insurance, Education Plan, BuySell, Compensation Plans

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michael scavullo
5266 Bailey Ct
Doylestown, PA
Company
Company: J.P. Turner & Company, LLC. (member SIPC) www.sipc.org
Type
Investment Advisor Rep: Yes
Years Experience
Years Experience: 15
Service
Life Settlements,IRA, 401k, Roth IRA, QDRO Rollovers,Wealth Management,Health Care Insurance,Retirement Planning,Real Estate Investment Planning,Annuity Ideas & Strategy Planning,Planning For Personal Finances & Budgeting,Retirement Income Accumulation Planning,Business Income Tax Planning,Fee-Only Comprehensive Financial Planning,Fee Only Portfolio Management,401k Rollover From Employer,CD Alternative,Disability Insurance,Annuities,Alternative Asset Class Planning,Commission-Only Financial Plan

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H&R Block
(717) 632-5385
1404 BALTIMORE ST STE 2
HANOVER, PA

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H&R Block Inside Sears At North Hanover Mall
(717) 630-4392
1155 CARLISLE ST STE 5
HANOVER, PA

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Liberty Tax Service
(866) 871-1040
1521 E Main St
Waynesboro, PA

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Mr. Richard P. Hedderick (RFC®), CFP, MBA
(814) 860-3456
3353 W 26th St
Erie, PA
Company
Financial Network Investment Corporation
Qualifications
Education: Bachelor of Science in Business Administration (BSBA) with a major in accounting from Clarion State University, Masters in Business Administration (MBA) from The Pennsylvania State University, Additional course work in the area of Financial Plann
Years of Experience: 11
Membership
IARFC, NAIFA
Services
Invoice, Estate Planning, Portfolio Management, Pension Planning, Retirement Planning, Tax Planning, Seminars Work, Employee Benefits, Stocks and Bonds, Mutual Funds, Mortgage Loans, CD Banking, Annuities, Life Insurance, Disability Income Insurance, Long Term Care Insurance, Group Insurance, Charitable Planning, Education Plan, Healthcare Accounts, Asset Protection, BuySell, Compensation Plans

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John Crowley
643 Bridge Street
Schwenksville, PA
Company
Company: Stone Henge Advisory Group
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,Fee Only Portfolio Management,Wealth Engineering,Mortgage Refinancing,IRA, 401k, Roth IRA, QDRO Rollovers,CD Alternative,Alternative Investments,Disability Insurance,Annuities,Alternative Asset Cla

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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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