Health Insurance Premiums – DougFreemanCPA.com

Would you like to establish a Health Savings Account for your small business?

Contributions, Deductions, Employee Benefits, Health Savings Account, Medical Expenses, Small Business, Tax Savings / Douglas Freeman

With the increasing cost of employee health care benefits, your business may be interested in providing some of these benefits through an employer-sponsored Health Savings Account (HSA). For eligible individuals, an HSA offers a tax-advantaged way to set aside funds (or have their employers do so) to meet future medical needs. Here are the important […]

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Do you want to go into business for yourself?

Deductable Expenses, Past-Through Entities, Retirement, Self Employment Tax, Simples, Simplified Employee Pension (SEP), Small Business, Social Security & Medicare (FICA) taxes / Douglas Freeman

Many people who launch small businesses start out as sole proprietors. Here are nine tax rules and considerations involved in operating as that entity. 1. You may qualify for the pass-through deduction. To the extent your business generates qualified business income, you are eligible to claim the 20% pass-through deduction, subject to limitations. The deduction

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3 traditional midyear tax planning strategies for individuals that hold up post-TCJA

Income Tax, Individual Income Tax, Internal Revenue Service, Medical Deductions, Tax Cuts and Job Acts (TCJA), Tax Deduction, Tax Planning, Tax Savings / Douglas Freeman

With its many changes to individual tax rates, brackets and breaks, the Tax Cuts and Jobs Act (TCJA) means taxpayers need to revisit their tax planning strategies. Certain strategies that were once tried-and-true will no longer save or defer tax. But there are some that will hold up for many taxpayers. And they’ll be more

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