Tax Services Queensbury NY

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
(518) 792-4524
756 State Route 9
Queensbury, NY

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H&R Block Inside Sears At Aviation Mall
(518) 793-7391
578 AVIATION RD
QUEENSBURY, NY

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Jackson Hewitt
(518) 746-9900
326 Broadway
Fort Edward, NY

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Mark J. Snyder (RFC®), CHFC, CLU, RFP
(631) 289-4224
1731 North Ocean Ave., Suite A
Medford, NY
Company
Mark J. Snyder Financial Services, Inc.
Qualifications
Education: B
Years of Experience: 37
Membership
IARFC
Services
Invoice, Estate Planning, Portfolio Management, Pension Planning, Retirement Planning, Tax Planning, Mutual Funds, Annuities, Life Insurance, Long Term Care Insurance, Compensation Plans

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Mr. Richard J. Chester (RFC®), CPA, MBA
(631) 588-8595
340 Portion Road
Ronkonkoma, NY
Company
RJC Financial Services, LLC
Qualifications
Education: CPA,MBA,BBA,RFC
Years of Experience: 43
Membership
IARFC, AICPA
Services
Invoice, Estate Planning, Business Planning, Pension Planning, Retirement Planning, Tax Planning, Tax Returns, Family Offices, Mutual Funds, Long Term Care Insurance, Medical Insurance, BuySell

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Liberty Tax Service
(866) 871-1040
870 State Route 9
Queensbury, NY

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Jackson Hewitt
(518) 793-9417
130 Broad Street
Glens Falls, NY

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Joys Services
(518) 642-3230
10449 State Route 22
Granville, NY

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Mr. Monroe M. Diefendorf (RFC®), CFP, CHFC, CLU
(516) 759-3900
152 Forest Ave.
Locust Valley, NY
Company
Diefendorf Capital Planning Associates
Qualifications
Education: Deerfield Academy; Bucknell University - Psychology; Georgia State University - Masters in Insurance
Years of Experience: 42
Membership
IARFC, MDRT, FPA, AALU, SFSP, NAIFA
Services
Invoice, Estate Planning, Portfolio Management, Pension Planning, Executive Compensation Planning, Retirement Planning, Tax Planning, Tax Returns, Employee Benefits, Family Offices, Stocks and Bonds, Mutual Funds, Mortgage Loans, Annuities, Life Insurance, Disability Income Insurance, Long Term Care Insurance, Medical Insurance, Group Insurance, Charitable Planning, Education Plan, Healthcare Accounts, Charitable Foundations, Asset Protection, BuySell, Compensation Plans

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Katherine D. Agrillo (RFC®), CFP, CHFC, CLU
(516) 542-0261
1858 Hempstead Turnpike
East Meadow, NY
Company
Agrillo Financial Group
Qualifications
Years of Experience: 28
Membership
IARFC, FPA
Services
Invoice, Estate Planning, Business Planning, Portfolio Management, Pension Planning, Retirement Planning, Tax Planning, Employee Benefits, Stocks and Bonds, Mutual Funds, CD Banking, Annuities, Life Insurance, Disability Income Insurance, Long Term Care Insurance, Medical Insurance, Group Insurance, Asset Protection, 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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