Posts Tagged ‘tax planning’
Taxes on Investments: A 2025 Guide
Investing grows wealth. But taxes can quietly erode returns if you aren’t careful. In 2025, the rules around investment taxation remain complex, especially for high-income earners and business owners. Understanding how taxes affect your portfolio lets you keep more of your money. With strategic planning, you can reduce tax drag, protect gains, and accelerate your…
Read MoreFinancial Independence Isn’t Just About Earning More—It’s About Keeping More
High earnings feel empowering. But without strategic planning, even substantial income can slip away through taxes, missed deductions, and inefficient structures. Financial independence isn’t solely about how much you earn—it’s about how much you retain. For business owners and high-income earners, tax planning is a key lever. Keeping more money legally allows you to grow…
Read MoreTax Planning for Growing Businesses: Why You Can’t DIY Forever
Running a business is exciting, but growth comes with new challenges. One of the biggest mistakes business owners make is thinking they can handle their taxes alone indefinitely. Tax planning evolves as your business grows, and DIY approaches often leave money on the table. Understanding why professional guidance matters can help you keep more of…
Read MoreThe Right Way to Ask Your C or S Corporation for Travel Reimbursements
Keep these basic rules in mind when you work in and operate your business as a corporation: You are an employee of the corporation. The corporation is a legal entity separate from you. The corporation is the business. You can incur business expenses on behalf of the corporation. The corporation may reimburse you for the…
Read MoreHow to Correctly Pay Yourself and Take Cash from Your Business in 2025
Many small business owners ask, “Should I put myself on the payroll?” The answer isn’t simple. Whether you are looking to maximize your qualified business income (QBI) deduction or take advantage of employee fringe benefits, incorrectly paying yourself wages can cause serious issues. In this article, we walk through the different ways the tax code…
Read MoreHow Donald Trump’s Proposed Tariffs Could Reshape Tax Planning, Savings, Estate Strategies, and Cryptocurrency Investments
Donald Trump’s proposed tariffs have been a topic of heated discussion in economic and financial circles. While the primary focus of tariffs often lies on their implications for trade, domestic industries, and international relations, they can also have a significant impact on tax planning and tax savings for individuals and businesses. In this blog, we…
Read More10 Overlooked Tax Deductions That Could Save You Big Money
When it comes to filing taxes, maximizing your deductions is a critical step toward reducing your tax burden and keeping more of your hard-earned money. However, many taxpayers leave money on the table by overlooking deductions they’re entitled to claim. Here’s a list of the top 10 commonly missed tax deductions that you should keep…
Read MoreTransform Your Financial Future: A Blueprint for Liquidity, Cash Flow, and Diversification
When it comes to financial planning, there’s one universal truth: your success depends on how well you manage the resources at your disposal. Liquidity, cash flow, and diversification are cornerstones of any solid financial strategy. Yet, many professionals—including physicians—find themselves off track after years of hard work. Why? It’s often due to inefficiencies in managing…
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 MoreUnderstanding Advanced Estate Planning Tools: A Guide to Protecting Your Legacy
As the landscape of estate planning evolves, it’s more important than ever to consider advanced tools and strategies that can help safeguard your assets and ensure a smooth transfer of wealth to future generations. In this post, we’ll explore some key tools in advanced estate planning, why they matter, and how they can minimize…
Read More