There can be tax advantages to working a W-2 for yourself as an owner-operator, filing as an S Corp, yet payroll can also be a step toward better savings.
There s nothing turnkey about building a business that can thrive for decades to come.
Trey Prescott | Dec 21, 2020
Market prognostication is an entertaining hobby but a mostly frustrating one. What’s more, those who get it right one week are often wrong the next. As advisors, you understand that. Most of us can’t see around corners, much less fully anticipate how the decisions we make today will impact us years from now. But what we can do, and what our clients look to us to do, is plan.
The same holds true for advisors who find themselves looking to travel the road for independence with the long-term goal of building a sustainable, multi-generational firm.
As an Arizona taxpayer, you have a unique opportunity to direct your tax money to schools and charities you support and believe in.
You have to make a donation upfront, but â provided you stay within prescribed limits â you get every dollar back in the form of a tax credit.
If you make every possible donation, married couples filing jointly can give $4,965, and all other taxpayers can give $2,483 â and get it all back.
You canât claim more than you owe in state taxes, but â with the exception of the Military Family Relief Fund Credit â unused credits can be carried forward for five years until used. Receipts should be retained and provided to your tax preparer.
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