Tax Hikes

5 Medical Reimbursement Tax Strategies

There are several medical reimbursement tax planning strategies available for your business. They diverge in their capacity to establish tax savings.

4 Health Care Tax Strategies for your business

Health Care is one of the most powerful tax strategies available to maximize the tax savings of your business. As a business owner, you have more options to save on healthcare and insurance costs.

2021 Tax Deductions: Meal Categories

Under the IRS regulations, you may deduct 50% of the cost of business-related meals. However, in 2021-2022 you can deduct 100% of the cost of business related meals.

3 Travel Expenses to maximize your Tax Savings

Business owners may perform business travel for several reasons. Often, owners are hesitant to take travel related deductions or are unaware that using some simple strategies, they can combine travel deductions and vacation.

Tax Deductions: Home Office

If your office location is in your house, you can deduct your bills for insurance, utilities, security, association fees, maintenance and general repairs.

Hire a Tax Professional

Hiring an experienced expert can make a difference. The key here though is to plan in advance! Don’t wait until the dreaded deadline each year, April 15, to start thinking about tax savings.