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Should You Operate as a C Corporation as a Single Owner?
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If you’re a single-owner business trying to keep your operations and personal finances strictly separate, electing or maintaining…
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Smart Strategies to Avoid IRS Penalties on Estimated Taxes
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Avoiding CP30 Notices: A Guide to Estimated Tax Planning
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Forget to File? The IRS Didn’t Forget About You
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If you haven’t filed yet and expect to owe, submit an extension ASAP to dodge the hefty late filing penalty.
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S Corp Tax Savings Explained: What Every LLC Owner Should Know
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If you operate a single-member LLC or multi-member LLC taxed as a partnership, you may be familiar with self-employment taxes eating into your bottom line. Electing S Corporation (S Corp) status can offer real tax savings….
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How Much Do Charitable Donations Reduce Income Tax?
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If your expenses exceed the standard deduction and itemizing is more beneficial, you may wonder how donations affect your taxable income. Assuming an adjusted gross income (AGI) of $105,000, you can deduct cash contributions to qualified charities up to 60% of your AGI—approximately $63,000. Any contributions beyond this limit can be carried forward for up…
