“An effective CFO, Finance Manager or CEO is extremely tax-minded. Executive top management (boards) are more inclined to offer security, incentives and praise to an accounting/finance executive that consistently delivers a low tax bill.”
Tag Archives: business taxes
Lean Wednesday Tip: Tax savvy family-owned businesses
“Family businesses allow tax savings through income splitting between parents, children or other relatives.”
Lean Wednesday tip: Buying a Business, tax savvy contracts
“When buying a business get a written guarantee; ensure your purchase contract includes a stipulation that requires the seller(s) to promise to only sell the business if there are no taxes owed and that the seller(s) will be personally liable to the buyer if this turns out not to be true.”
Taxes: Depreciation Categories
When buying assets it is important to know the best way to purchase and depreciate to take advantage of tax loopholes. Capital expenses usually include the following assets: buildings, cell phones, computers and software, copyrights and patents, equipment, improvements to business property, inventory, office furnishings and decorations, small tools and equipment, vehicles and window coverings.Continue reading “Taxes: Depreciation Categories”
Lean Wednesday Tip: Tax considerations for C Corporation Dividend Payouts
“Avoid double taxation of a C Corporation’s dividend payout by structuring payments to shareholders as consulting fees. Shareholders must actually offer advice for the payments to be considered valid tax deductible transactions.”
Top 10 Business Tax Shelters You Should Know
As we all know, two things are certain in life, death and taxes. I personally enjoy doing my taxes but like everyone else I don’t enjoy paying them. In business, it is critical that you know all the deductions that are available to you when it comes to keeping your bottom line healthy and yourContinue reading “Top 10 Business Tax Shelters You Should Know”
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