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How Should You Set Up Your New Business?
If you are forming a small business, you face several choices: Sole Proprietorship, Partnership, C-corporation, S-corporation, Limited Liability Partnership and Limited Liability Company. Here are the basics.

Sharing Your Stock Market Losses With Uncle Sam
A lot of people may have large losses in the stock market from last year or early this year. Some of you may have since gained money in the market. You may want to consider selling these gains to offset your losses tax free.

Dangers in Shareholder Loans Continue
Loans between shareholders and closely held corporations are subject to special tax scrutiny and if not properly documented, can produce adverse tax results.

The Home Office Deduction: Know the Do's and Don'ts
Tax rules regarding the home office deduction have changed a lot over the years.

What's the "Right Amount" of Compensation for an S Corporation Shareholder/Employee?
The S corporation has been used by small business owners to avoid payroll taxes, and the IRS knows it. In fact, there is a compliance initiative underway to find as many of those abusive situations as possible and assess appropriate payroll taxes. Here is a case that describes how a CPA got into trouble with his own S corporation, how he got out, and how you can avoid the mistakes he made.

Help With Education Costs
Virtually all taxpayers can get help to pay for education costs in the form of tax credits and/or special deductions.

Does Marriage Complicate Your Tax Return?
In spite of legislative changes and political hype, the "marriage penalty" that has existed in the tax laws is far from gone.

To Roth or Not to Roth? That is the IRA Question!
For many taxpayers, the Roth IRA is one of the best tax-advantaged retirement plans around. Are you eligible to harvest the grapes of Roth? Is a Roth IRA or a traditional IRA right for you?

 

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