Tax Services South Amboy NJ

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. Saul M. Simon (RFC®), CFP
(732) 623-2070
333 Thornall Street Ste 9B
Edison, NJ
Company
Simon Financial Group
Qualifications
Education: AA, BA
Years of Experience: 23
Membership
IARFC, MDRT, FPA
Services
Invoice, Estate Planning, Business Planning, Portfolio Management, Pension Planning, Executive Compensation Planning, Retirement Planning, Medicaid Planning, Tax Planning, Seminars Work, Employee Benefits, Stocks and Bonds, Mutual Funds, Annuities, Life Insurance, Disability Income Insurance, Long Term Care Insurance, Medical Insurance, Group Insurance, Charitable Planning, BuySell, Compensation Plans

Data Provided by:
Mark T. Wade (RFC®), CSA
(908) 647-6000
500 North Ave Apt 3
Garwood, NJ
Qualifications
Education: Mark Wade has more than 26 years of experience advising affluent clients. He is passionate about addressing the whole picture of his clients financial lives and helping them streamline their financial affairs.Mark graduated from Fairleigh Dickinson Un
Years of Experience: 31
Membership
IARFC
Services
Invoice, Estate Planning, Business Planning, Portfolio Management, Trustee Service, Pension Planning, Executive Compensation Planning, Retirement Planning, Tax Planning, Employee Benefits, Family Offices, Stocks and Bonds, Mutual Funds, CD Banking, 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

Data Provided by:
Dr. Edwin Hernandez (RFC®), MBA
(718) 439-5750
463 54th Street
Brooklyn, NY
Company
Targeted Instruction, LLC
Qualifications
Education: AS, BS, MBA, Ed.D.Licensed NYS Teacher of MathematicsLicensed NYS School Administrator
Years of Experience: 18
Membership
IARFC
Services
Invoice, Estate Planning, Business Planning, personal Coach, Retirement Planning, Tax Planning, Tax Returns, Seminars Work, Business Coach, Education Plan

Data Provided by:
Jackson Hewitt
(732) 525-5666
137 South Broadway Ste A1
South Amboy, NJ

Data Provided by:
Jackson Hewitt Tax Svc
(732) 721-3400
1126 Us Highway 9
South Amboy, NJ

Data Provided by:
Mr. Al Procaccino (RFC®), CFP, MBA
(732) 888-4994
2899 State Highway 35
Hazlet, NJ
Company
Castle Financial
Qualifications
Education: MBA
Years of Experience: 32
Membership
IARFC, FPA
Services
Invoice, Estate Planning, Portfolio Management, Pension Planning, Retirement Planning, Medicaid Planning, Tax Planning, Tax Returns, Stocks and Bonds, Mutual Funds, CD Banking, Annuities, Life Insurance, Long Term Care Insurance, Charitable Planning, Education Plan, Asset Protection

Data Provided by:
Mr. Sean T. Keating (RFC®), CFP, CHFC
(201) 779-7187
9 Christopher Way
Eatontown, NJ
Company
Patriot Financial Advisors LLC
Qualifications
Education: St. John Fisher CollegeB.S. Business Management
Years of Experience: 5
Membership
IARFC, FPA
Services
Invoice, Estate Planning, Pension Planning, Executive Compensation Planning, personal Coach, Retirement Planning, Medicaid Planning, Tax Planning, Seminars Work, Employee Benefits, Mortgage Loans, Life Insurance, Disability Income Insurance, Long Term Care Insurance, Medical Insurance, Group Insurance, Auto Home Insurance, Business Coach, Charitable Planning, Education Plan, Healthcare Accounts, BuySell, LiabCover, Compensation Plans

Data Provided by:
Dr. Gary M. Benke (RFC®), CSA, PHD
(908) 359-8221
10 Stacy Drive
Belle Mead, NJ
Company
First Allied Securities
Qualifications
Education: MS (Cornell)Ph.D.(Harvard)
Years of Experience: 28
Membership
IARFC
Services
Invoice, Portfolio Management, Trustee Service, Pension Planning, Retirement Planning, Tax Planning, Seminars Work, Stocks and Bonds, Mutual Funds, Annuities, Life Insurance, Long Term Care Insurance, Charitable Planning, Education Plan, Charitable Foundations, Asset Protection, BuySell, Compensation Plans

Data Provided by:
Liberty Tax Service
(866) 871-1040
960 Us Highway 9
South Amboy, NJ

Data Provided by:
Liberty Tax Service
(866) 871-1040
46 W Front St
Keyport, NJ

Data Provided by:
Data Provided by:

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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