Making withdrawals from your closely held corporation that aren’t taxed as dividends Do you want to withdraw cash from your closely held corporation at a minimum tax cost? The simplest way is to distribute cash as a dividend. However, a dividend distribution isn’t...
Innovative Strategies For Winning Tax Controversies, Business Structuring And Estate Planning
expensing
Mileage deduction decreases to $.575 per mile
CENTS-PER-MILE RATE FOR BUSINESS MILES DECREASES SLIGHTLY FOR 2020 This year, the optional standard mileage rate used to calculate the deductible costs of operating an automobile for business decreased by one-half cent, to 57.5 cents per mile. As a result, you might...
Sec 179 Expensing
SEC. 179 EXPENSING PROVIDES SMALL BUSINESSES TAX SAVINGS ON 2017 RETURNS — AND MORE SAVINGS IN THE FUTURE
