Tax Services Steubenville OH

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. Gregory R. Metcalf (RFC®), RFP
(307) 723-5018
200 Ivy St
Weirton, WV
Company
Horizon Financial Group
Qualifications
Education: Ohio University, BBA FinanceCollege for Financial Planning's CFP Certification Professional Education Program
Years of Experience: 15
Membership
IARFC, FPA
Services
Invoice, Estate Planning, Portfolio Management, Pension Planning, Retirement Planning, Medicaid 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, Education Plan, Healthcare Accounts, Asset Protection

Data Provided by:
H&R Block
(304) 797-1216
3348 MAIN ST
WEIRTON, WV

Data Provided by:
Donald Waterbury
3663 Ebenezer Rd
Cincinnati, OH
Service
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,Wealth Management,Medicaid,Life Ins

Data Provided by:
Mr. Edwin P. Morrow (RFC®), CEP, CFP, CHFC, CLU
(513) 424-6395
Financial Planning Building
Middletown, OH
Company
IARFC
Qualifications
Education: Centre College of Kentucky and University of Louisville School of Law, plus having served as instructor for many financial planning courses and Practitioner in Residence at Wright State University for three years.
Years of Experience: 46
Membership
IARFC, MDRT, FPA, SFSP, NICEP
Services
Invoice, Estate Planning, Business Planning, Portfolio Management, Executive Compensation Planning, personal Coach, Retirement Planning, Tax Planning, Seminars Work, Mutual Funds, Mortgage Loans, Precious Metals, Annuities, Life Insurance, Disability Income Insurance, Long Term Care Insurance, Business Coach, Charitable Planning, Education Plan, Charitable Foundations, Asset Protection, BuySell, Compensation Plans

Data Provided by:
WTS Inc.
(513) 625-7192
2841 State Route 131
Newtonsville, OH

Data Provided by:
H&R Block
(740) 266-1395
100 MALL DR
STEUBENVILLE, OH

Data Provided by:
H&R Block
(740) 537-4757
212 MAIN ST
TORONTO, OH

Data Provided by:
David A. Dinsmore (RFC®), CFP
(513) 266-3226
6192 Silver Wood Dr.
Morrow, OH
Company
Certified Busines Appraisal
Qualifications
Years of Experience: 29
Membership
IARFC
Services
Invoice, Business Planning, Tax Returns, Business Coach, Asset Protection, Compensation Plans

Data Provided by:
Roberta A. Carter (RFC®), CEP, CSA, MBA
(513) 792-4067
8044 Montgomery Rd., Ste. 700
Cincinnati, OH
Company
The Retirement Choice
Qualifications
Education: University of Cincinnati, Xavier University , New York Institute of Finance and Sherwood University.
Years of Experience: 22
Membership
IARFC
Services
Invoice, Estate Planning, Pension Planning, Retirement Planning, Medicaid Planning, Tax Planning, Stocks and Bonds, Mutual Funds, CommOptions, CD Banking, Annuities, Life Insurance, Disability Income Insurance, Long Term Care Insurance, Medical Insurance, Charitable Planning, Healthcare Accounts, Asset Protection, Compensation Plans

Data Provided by:
John T. Ross (RFC®), CFP, CSA
(419) 842-1505
7261 West Central Avenue
Toldeo, OH
Company
Integrated Financial Resources, Inc.
Qualifications
Years of Experience: 32
Membership
IARFC, AALU
Services
Invoice, Estate Planning, Business Planning, Portfolio Management, Trustee Service, Pension Planning, Executive Compensation Planning, personal Coach, Retirement Planning, Medicaid Planning, Tax Planning, Seminars Work, 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, Auto Home Insurance, Business Coach, Charitable Planning, Education Plan, Healthcar

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...

Click here to read more from Home Business Magazine

© Copyright 2013 Home Business Magazine. All Rights Reserved. Privacy Policy | Terms and Conditions
Infoswell Media