167 plain-English guides on tax planning, each one ending in what to do next.
Page 5 of 7, newest first.
Tax-loss harvesting offsets capital gains with realized losses, reducing your current-year tax bill. The wash sale rule under IRC 1091 limits repurchases.
Tax PlanningTax-loss harvesting involves selling losing investments to offset capital gains, reducing tax by up to $3,000/year even without gains.
Tax PlanningTax-loss harvesting is the practice of selling investments at a loss to offset capital gains and, within limits, ordinary income.
Tax PlanningTax loss harvesting basics: How it works: 1. Identify investments in your taxable brokerage account that have declined in value (unrealized losses) 2.
Tax PlanningAccounting firms and CPA practices are explicitly classified as specified service trades or businesses (SSTBs) under IRC 199A.
Tax PlanningAgricultural businesses operate under a unique set of tax rules that recognize the inherent volatility of farm income. Farm-specific tax provisions: |.
Tax PlanningFarmers and agricultural businesses receive more favorable tax treatment than almost any other industry in the Internal Revenue Code.
Tax PlanningAmazon FBA (Fulfillment by Amazon) sellers face a unique multi-state tax exposure because Amazon stores inventory in warehouses across the country.
Tax PlanningArchitecture and engineering firms aren't SSTBs under IRC 199A(d)(2), so principals above the income threshold can keep the QBI deduction, subject to W-2 wage and property limits.
Tax PlanningAuto dealerships operate under a specialized tax framework that differs significantly from most retail businesses because of three unique features.
Tax PlanningBeauty salons and barbershops choose between W-2 stylists, where the salon can claim the IRC 45B FICA tip credit, and booth renters who pay their own SE tax.
Tax PlanningCraft beverage producers (breweries, wineries, and distilleries) face a unique two-layer tax structure. CBMA excise tax rates (permanent).
Tax PlanningCannabis businesses face a unique and punitive federal tax rule that no other legal industry confronts: IRC 280E. IRC 280E impact on cannabis.
Tax PlanningCannabis businesses operate under the most punitive tax regime of any legal industry in the United States because of IRC 280E.
Tax PlanningConstruction companies face unique tax rules that differ significantly from other industries. Revenue recognition methods for construction contracts: |.
Tax PlanningConsultants, freelancers, and independent professionals face a unique tax landscape where self-employment tax (15.3% on the first $176,100 of net.
Tax PlanningDaycare and childcare center operators face a unique tax profile because the business is labor-intensive (70-80% of revenue goes to staff wages.
Tax PlanningDental practices are classified as specified service trades or businesses (SSTBs) under IRC 199A, falling within the 'health care' category of Treas. Reg.
Tax PlanningDental practices face a tax planning environment that closely mirrors medical practices but with several key differences.
Tax PlanningE-commerce businesses face a tax compliance landscape that is more complex than traditional brick-and-mortar retail because online sellers create sales.
Tax PlanningE-commerce businesses face a unique combination of tax challenges that brick-and-mortar retailers do not encounter. E-commerce tax obligations: |.
Tax PlanningOnline education businesses (course creators, membership sites, coaching programs. E-learning business SSTB classification.
Tax PlanningThe fitness industry presents specific tax planning opportunities and challenges that differ from typical service businesses.
Tax PlanningFitness businesses span a wide range of models (from solo personal trainers to multi-location gym chains). Fitness business SSTB classification: |.