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Tax Services Towson MD

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.

Stephen A. Jolly (RFC®), CSA
(757) 499-9100
8501 Lasalle Rd Ste 303
Towson, MD
Company
Coastal Financial Corporation
Qualifications
Education: BS
Years of Experience: 23
Membership
IARFC
Services
Invoice, Estate Planning, Business Planning, Trustee Service, Pension Planning, Executive Compensation Planning, Retirement Planning, Medicaid Planning, Tax Planning, Tax Returns, Seminars Work, Employee Benefits, Family Offices, Mortgage Loans, Annuities, Life Insurance, Disability Income Insurance, Long Term Care Insurance, Medical Insurance, Group Insurance, BuySell, Compensation Plans

Data Provided by:
Howard R. Pinson (RFC®), CFP, CLU, CSA, LUTCF
(410) 580-1212
1700 Reisterstown Rd., Suite 207
Baltimore, MD
Company
ING Financial Partners, Inc.
Qualifications
Education: Bachelor of ScienceCertified Financial Planner, PractitionerRegistered Financial ConsultantCertified Life UnderwriterLife Underwriter Training Council Fellow
Years of Experience: 21
Membership
IARFC, MDRT, FPA
Services
Invoice, Estate Planning, Business Planning, Portfolio Management, Trustee Service, Pension Planning, Executive Compensation Planning, Retirement Planning, Tax Planning, Seminars Work, Employee Benefits, Stocks and Bonds, Mutual Funds, Mortgage Loans, CD Banking, Annuities, Life Insurance, Disability Income Insurance, Long Term Care Insurance, Medical Insurance, Group Insurance, Healthcare Accounts, BuySell, Compensation Plans

Data Provided by:
Mr. Jong-Yow Steve Hsin (RFC®), MBA
(410) 247-2345
1430 Joh Avenue Ste M
Baltimore, MD
Company
PTC International Portfolio Management, Inc.
Qualifications
Education: Master's in Finance
Years of Experience: 12
Membership
IARFC
Services
Invoice, Estate Planning, Portfolio Management, Retirement Planning, Tax Planning, Seminars Work, Family Offices, Charitable Planning, Education Plan, Asset Protection

Data Provided by:
Liberty Tax Service
(866) 871-1040
7305 York Rd
Towson, MD

Data Provided by:
Gateway Financial Services, Inc.
(410) 823-0972
1055 Taylor Ave Suite 117
Baltimore, MD
 
Mr. Alan P. Stokes (RFC®), CPA
(410) 560-2667
7 Deneison St
Timonium, MD
Company
Alan P. Stokes & Assoc, Inc T/A Century Accounting & Financial Services
Qualifications
Education: Graduate of University of Baltimore, 1975, with a Bachelor's Degree in Accounting;Sat and passed CPA exam in 1982;Series 6, 63, & insurance licensed;on going required CPE education/credits
Years of Experience: 12
Membership
IARFC
Services
Invoice, Estate Planning, Business Planning, Retirement Planning, Tax Planning, Tax Returns, Employee Benefits, Mutual Funds, Annuities, Life Insurance, Disability Income Insurance, Long Term Care Insurance, BuySell

Data Provided by:
Mr. Marc W. Mazer (RFC®), EA
(410) 902-8240
300 Redland Court,
Owings Mills, MD
Company
Marc Mazer Wealthcare Advisors
Qualifications
Education: BS Accounting -University of BaltimoreMS Taxation -University of Baltimore
Years of Experience: 20
Membership
IARFC
Services
Invoice, Estate Planning, Business Planning, Pension Planning, Retirement Planning, Tax Planning, Tax Returns, Mutual Funds, Annuities, Life Insurance, Disability Income Insurance, Long Term Care Insurance, Education Plan, Asset Protection

Data Provided by:
Mr. Randy H. Packett (RFC®), CEP, CSA
(410) 877-0027
2309 Bel Air Road, Suite B
Fallston, MD
Company
Chesapeake Senior Solutions, Inc.
Qualifications
Years of Experience: 28
Membership
IARFC, MDRT, FPA, NAIFA, GAMA
Services
Invoice, Estate Planning, Business Planning, Portfolio Management, Pension Planning, Executive Compensation Planning, personal Coach, Retirement Planning, Medicaid Planning, Tax Planning, Tax Returns, Seminars Work, Employee Benefits, Stocks and Bonds, Mutual Funds, Mortgage Loans, 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, Healthcare Ac

Data Provided by:
Jones Hall Advisors
(410) 321-0206
521 E Joppa Rd
Baltimore, MD
 
H&R Block Inside York Road Plaza
(410) 825-5444
6366 YORK RD
BALTIMORE, MD

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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