167 plain-English guides on tax planning, each one ending in what to do next.
Page 2 of 7, newest first.
Under the constructive receipt doctrine (Treas. Reg. 1.451-2), income is taxable in the year it is credited, set apart. Constructive receipt rules: |.
Tax PlanningThe tax treatment of trading income depends entirely on whether the IRS classifies you as a trader or an investor. Trader vs.
Tax PlanningThe Disabled Access Credit under IRC 44 provides small businesses (30 or fewer full-time employees OR $1 million or less in gross receipts) a tax credit.
Tax PlanningA domestic asset protection trust (DAPT) is an irrevocable trust established under the laws of a state that permits the grantor to be a discretionary.
Tax PlanningUS manufacturers benefit from several overlapping tax incentives: 100% bonus depreciation on equipment and machinery (permanently restored under OBBBA).
Tax PlanningThe original Section 199 Domestic Production Activities Deduction (DPAD) allowed a 9% deduction on qualified production activities income (QPAI).
Tax PlanningE-commerce sellers face unique tax challenges: multi-state sales tax nexus, inventory accounting, 1099-K reporting from payment processors.
Tax PlanningHiring family members in a legitimate business is one of the most effective tax planning strategies for small business owners.
Tax PlanningThe general business credit under IRC 38 is not a single credit but an aggregation of over 30 individual business tax credits.
Tax PlanningSelf-employed business owners can deduct health insurance premiums as an above-the-line deduction. Health insurance is one of the largest personal.
Tax PlanningSelf-employed business owners can deduct health, dental, and vision insurance premiums for themselves and their families as an above-the-line deduction.
Tax PlanningSelf-employed business owners can deduct health insurance premiums as an above-the-line deduction on Form 1040 (not on Schedule C).
Tax PlanningHSAs offer a triple tax benefit: tax-deductible contributions, tax-free growth, and tax-free withdrawals for medical expenses.
Tax PlanningHSAs provide a triple tax benefit: tax-deductible contributions ($4,300 individual, $8,550 family in 2025), tax-free growth.
Tax PlanningHiring family members in a small business can produce significant tax savings when structured properly. Family employment payroll tax exemptions: |.
Tax PlanningAn HSA paired with a high-deductible health plan offers triple tax savings: contributions are pre-tax, growth is tax-free.
Tax PlanningHealth Savings Accounts (HSAs) offer a triple tax benefit: contributions are deductible, growth is tax-free, and qualified withdrawals are tax-free.
Tax PlanningA business owner earning $80,000 most years but $250,000 in one year pays more lifetime tax than one earning $120,000 every year.
Tax PlanningInsurance proceeds received by a business are generally not taxable if they reimburse a deductible loss (replacing destroyed equipment.
Tax PlanningWhen business property is destroyed, stolen, or condemned, IRC 1033 lets you defer the gain if you replace the property within the statutory period.
Tax PlanningIRC 1035 allows taxpayers to exchange one life insurance policy, endowment contract. Permitted IRC 1035 exchanges. Covers deductibility rules, policy.
Tax PlanningThe qualified business income (QBI) deduction under IRC 199A provides a 20% deduction on qualified business income from pass-through entities (S-Corps.
Tax PlanningThe IRC 199A QBI deduction lets pass-through owners deduct up to 20% of qualified income, subject to W-2 wage and SSTB limitations above the threshold.
Tax PlanningMedical and dental practices get the biggest tax savings from an S-Corp election, a defined benefit plus 401(k) combination, and Section 179 on equipment.