How will the Tax Reform Change Your Tax Strategy?

Experts are predicting that the recent tax reform will create an abundance of new business growth and activity – just not the kind that lawmakers originally intended. These people are predicting a surge in efforts for reclassification and the organization of cover companies by employees so they can have their salaries recognized as business income, significantly lowering their tax burden as a result. Read more

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5 Tax Planning Secrets You Need to Know Before December

By Jacob Stewart, Tax Strategist at TOP CFOS

As the end of the year approaches, you can save yourself a lot of money and pain come tax-time by planning ahead. You can usually contribute to HSAs and retirement accounts as late as April 15th of the following year (as either an individual or as a business owner). Even though this is the case, most businesses must take and pay for their deductions by December 31st in order to count for the current tax year.  Creating a tax projection and plan can save you thousands of dollars in taxes. Here are some examples of things to consider: Read more