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:
Mr. William A. Smith (RFC®), CSA
(419) 626-8600
5004 Timber Commons Drive
Sandusky, OH
Company
Great Lakes Retirement Group
Qualifications
Education: Degree from University of Akron
Years of Experience: 16
Membership
IARFC
Services
Invoice, Estate Planning, Retirement Planning, Tax Planning, Seminars Work, Stocks and Bonds, Mutual Funds, CD Banking, Annuities, Life Insurance, Long Term Care Insurance, Charitable Planning, Asset Protection, Compensation Plans

Data Provided by:
William J. Nelson (RFC®), CEP, LUTCF
(937) 506-4088
3195 Dayton-Xenia Rd Ste 900-385
Beavercreek, OH
Company
Learning Institute
Qualifications
Years of Experience: 37
Membership
IARFC
Services
Invoice, Estate Planning, Portfolio Management, Retirement Planning, Tax Planning, Seminars Work, Stocks and Bonds, Mutual Funds, Annuities, Life Insurance, Disability Income Insurance, Long Term Care Insurance, Charitable Planning, Compensation Plans

Data Provided by:
Diane N Douglas & Associates
(513) 530-0220
8150 Corporate Park Drive
Cincinnati, 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:
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. Paul D. Nenni (RFC®), CPA
(513) 424-1939
1064 N University Blvd.
Middletown, OH
Company
Nenni Financial Services
Qualifications
Education: BS
Years of Experience: 35
Membership
IARFC, AICPA
Services
Invoice, Estate Planning, Business Planning, Portfolio Management, Pension Planning, Retirement Planning, Tax Returns, Mutual Funds, Annuities, Long Term Care Insurance, Medical Insurance

Data Provided by:
John C. Johnson (RFC®), CFP, CHFC, CLU, CSA
(330) 364-2605
126 Northwood Drive
Dover, OH
Company
American Portfolios, Inc.
Qualifications
Years of Experience: 29
Membership
IARFC, FPA
Services
Invoice, Estate Planning, Portfolio Management, Pension Planning, Retirement Planning, Medicaid Planning, Tax Planning, Employee Benefits, Stocks and Bonds, Mutual Funds, Annuities, Life Insurance, Long Term Care Insurance, 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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