Posts Tagged ‘business structure’
Structure Your Business Properly to Significantly Lower Your Taxes
Knowing how to structure your business to save on taxes in 2025 is essential if you want to reduce your tax burden and keep more of your income. Recent changes in U.S. tax laws, such as the Tax Relief for American Families and Workers Act and the Inflation Reduction Act, have introduced new provisions…
Read MoreHiring Your Child in Your Family Business: Tax Benefits and Compliance Tips
Hiring your child in your family business can be a rewarding way to teach them responsibility while also providing substantial tax benefits for both you and your child. By paying them a salary, you can deduct it as a business expense, effectively reducing your taxable income. Meanwhile, your child can earn up to the…
Read MoreSuccession Planning and Taxes: What You Need to Know
If you own a business, planning for future transitions and taxation should start now. Key takeaways Business structure matters for taxes, whether it’s a pass-through entity, S or C corporation, or another entity The Tax Cuts and Jobs Act lowered the corporate tax rate, and it also created the qualified business income deduction for pass-through…
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