Federal Income Tax
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Taking the opposite approach: Ways your business can accelerate taxable income and defer deductions
Typically, businesses want to delay recognition of taxable income into future years and accelerate deductions into the current year. But when is it prudent to…
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Establish a tax-favored retirement plan
If your business doesn’t already have a retirement plan, now might be a good time to take the plunge. Current retirement plan rules allow for…
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Lost your job? Here are the tax aspects of an employee termination
Despite the robust job market, there are still some people losing their jobs. If you’re laid off or terminated from employment, taxes are probably the…
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Married couples filing separate tax returns: Why would they do it?
If you’re married, you may wonder whether you should file joint or separate tax returns. The answer depends on your individual tax situation. In general,…
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Did you give to charity in 2021? Make sure you have substantiation
If you donated to charity last year, letters from the charities may have appeared in your mailbox recently acknowledging the donations. But what happens if…
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Many factors are involved when choosing a business entity
Are you planning to launch a business or thinking about changing your business entity? If so, you need to determine which entity will work best…
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