Entries by David Auer

Beware the “Dirty Dozen:” Common Tax Scams to Avoid

In 2020, the IRS released a “Dirty Dozen” of prevalent tax scams. Here’s what to watch out for! The IRS regularly compiles a list of the “Dirty Dozen,” or the 12 most common scams that target taxpayers. This list is always changing and evolving, and some risks have been heightened because of the COVID-19 pandemic. […]

Is There a “Right” Tax-Advantaged Retirement Plan?

There’s no one perfect way to approach retirement that is the best for everyone. Choosing the right plan for you starts with understanding your options and the tax implications of each one. There are several different approaches you can take to your retirement savings strategy. Each avenue has its own set of tax implications and […]

How to Make the Most of Medical Benefits on Taxes

It’s always wise to optimize the tax efficiency of medical benefits. But it’s even more crucial during a pandemic. Here’s how to keep your returns as healthy as possible. The year 2020 may mean that more people have high medical expenses, with millions of Americans having tested positive for the coronavirus. On top of those […]

Switch Your Structure, Transform Your Taxes

Are you forming a business? Thinking of switching your structure? There are pros and cons to each option, so understand which will help you meet your goals and pay less tax. The structure of a business can make a big difference come tax time. How can you best shape your enterprise for optimum tax efficiency? […]

How to Avoid (or Survive) an Audit from the IRS

A tax audit can be the worst nightmare for many business owners. But there are proactive ways to prevent an audit and get through it if it does happen. A tax audit may sound daunting and expensive. Many business owners fear the IRS and potential penalties and fees incurred if they do something wrong. The […]

Making the Most of C and S Corporations

Both types of corporations give certain tax benefits, including additional deductions. Learn how they differ and why using both may provide you the best of both worlds. When you’re running a business, you have a few options for creating a business structure, including a sole proprietorship, partnership, corporation, or LLC. Each of these options has […]

Examining the Delayed Tax Refunds of 2020

COVID-19 caused a delay in the tax return filing deadline, giving taxpayers extra time during this uncertain economic time. But the IRS still hadn’t processed millions of returns by October. The IRS responded to the COVID-19 pandemic by extending the deadline for tax filing in 2020. Many welcomed the grace period in a year that […]

Tips for Deducting Travel Costs and Meal Expenses on Your Taxes

Business owners can run into considerable costs when traveling for work, but some of these expenses can provide deductions come tax time. Travel may have been curtailed during the pandemic, but it remains necessary for many self-employed individuals across the country.  When you travel multiple times per year to meet with clients or negotiate contracts, […]

Tax Planning for Locum Tenens Physicians

New to a locum tenens assignment? To optimize tax planning and maximize savings, here are important factors to consider. Being a locum tenens physician gives you a great deal of flexibility, providing new opportunities during a career and a chance to gain further professional experiences and perspectives. You can potentially work in locations you wouldn’t […]

How to Nail a 90-Day Action Plan

An action plan helps you reach both short- and long-term goals while developing foresight and flexibility Creating a 90-day action plan for your business helps set and reach clear and realistic goals. This roadmap can also narrow down your short-term objectives to prioritize focus for a set period. And an action plan will help you […]