Tax Services Guntersville AL

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.

Jackson Accounting
(256) 558-0237
Oakcrest Drive
Guntersville, AL
 
H&R Block
(256) 586-6862
1110 N BRINDLEE MT pkwy
ARAB, AL

Data Provided by:
Mr. Larry C. Ransburgh (RFC®), MBA
(334) 230-6347
3025 Brevard Ave
Montgomery, AL
Qualifications
Education: MBA - FinanceBS - Business EconomicsCertificate in Financial Planning - Kaplan UniversitySeries 6, 7, 66Life and Health Insurance
Years of Experience: 12
Membership
IARFC
Services
Invoice, Estate Planning, Business Planning, Portfolio Management, Trustee Service, Pension Planning, Executive Compensation Planning, Retirement Planning, Tax Planning, Tax Returns, Employee Benefits, Family Offices, Stocks and Bonds, Mutual Funds, Mortgage Loans, CommOptions, Precious Metals, CD Banking, Life Insurance, Charitable Planning, Education Plan, Charitable Foundations, BuySell, Compensation Plans

Data Provided by:
J. Charles "Chuck" Dunham
201 Office Park Drive
Birmingham, AL
Company
Company: First Financial Group
Type
Investment Advisor Rep: Yes
Education
Vanderbilt University/BA
University of Alabama Birmingham (UAB)/MBA
Years Experience
Years Experience: 27
Service
Business Income Tax Planning,Fee-Only Comprehensive Financial Planning,Portfolio Engineering,401k Rollover From Employer,CD Alternative,Disability 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,Captive Insurance,Pension for Highly Compensated Owners,Income for Life/ Preserv

Data Provided by:
Don G. Charest (RFC®), CHFC
(251) 343-7715
3662 Dauphin St Ste A-1
Mobile, AL
Company
Charest Company, LLP
Qualifications
Education: Champlain College, Burlington, Vt
Years of Experience: 38
Membership
IARFC
Services
Invoice, Estate Planning, Business Planning, Retirement Planning, Tax Planning, Mutual Funds, Annuities, Life Insurance, Disability Income Insurance, Long Term Care Insurance, BuySell, Compensation Plans

Data Provided by:
H&R Block
(256) 878-6418
224 N CARLISLE ST
ALBERTVILLE, AL

Data Provided by:
H&R Block
(256) 728-2511
5614 MAIN ST
GRANT, AL

Data Provided by:
Brad Williams
2707 Artie St.
Huntsville, AL
Service
Fee Only Portfolio Management,Wealth Engineering,Mortgage Refinancing,IRA, 401k, Roth IRA, QDRO Rollovers,CD Alternative,Alternative Investments,Disability Insurance,Annuities,Alternative Asset Class Planning,Investment Consulting & Allocation Design,Business Succession & Liquidation Planning,Estate Tax Planning,Asset Protection Strategies & Planning,Individual Income Tax Planning,Portfolio Engineering,High Yield Bank Accounts,401k Rollover From Employer,Income for Life/ Preserve Principal,Wealt

Data Provided by:
Lee Lawrence
8128 Old Federal Rd.
Montgomery, AL
Company
Title: Financial Consultant
Company: Affinity Partners, LLC.
Type
Investment Advisor Rep: Yes
Service
Long-Term Health Care Planning,Annuity Ideas & Strategy Planning,Planning For Personal Finances & Budgeting,Retirement Income Accumulation Planning,Business Income Tax Planning,Fee-Only Comprehensive Financial Planning,Portfolio Engineering,401k Rollover From Employer,Income for Life/ Preserve Principal,Alternative Investments,Health Care Insurance,Retirement Planning,Real Estate Investment Planning,Commission-Only Financial Planning (Full Disclosure),Insurance & Risk Management Planning,Retirem

Data Provided by:
Jonathan D. Charest (RFC®), CSA, MSFS
(251) 649-2274
4000 Wulff Rd.
Semmes, AL
Company
Charest Company, LLP
Qualifications
Education: BS, MSFS
Years of Experience: 14
Membership
IARFC
Services
Invoice, Estate Planning, Business Planning, Portfolio Management, personal Coach, Retirement Planning, Medicaid Planning, Tax Planning, Family Offices, Stocks and Bonds, Mutual Funds, CommOptions, CD Banking, Annuities, Life Insurance, Disability Income Insurance, Long Term Care Insurance, Medical Insurance, Group Insurance, Business Coach, Education Plan, Healthcare Accounts, Asset Protection, BuySell, Compensation Plans

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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