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Jasmine and John DiLucci believe in providing high-value, free content to all individuals and business owners. However, the information provided on this site is for general educational information only and does not constitute professional tax advice upon which you can rely. Please click here for the full disclaimer.
S-Corps Explained by Jasmine at UT Law Conference
Today what I’m going to be talking about at this conference is - I’m actually speaking to business attorneys - and what's really important about today is that, as a tax attorney and CPA, my focus is making sure...
S-Corp Tax Savings Explained: Pros and Cons of an S-Corp
In this video I’m going to go over how exactly you save tax by using an S-Corp. Very often I’ll see people start S-Corps when they’re not saving any tax, so all they do is create extra administrative work with no benefit....
4 Biggest Mistakes You Can Make to Generate S-Corporate Double Taxation for Your Business.
In this video, I’m going to cover the 4 biggest mistakes you can make to generate S-Corp double taxation. And if you thought double taxation was reserved just for C-Corps, then you would be wrong. And if you formed or are...
How to Deduct 100% of Your State Income Tax
Video Transcription: Many states have now implemented laws that allow you to deduct your state income taxes on your federal tax return. What’s significant about this is that the IRS has actually published a notice blessing this strategy....
What Happens If My 1099 Is Incorrect? Here’s How to Report It with the IRS
Although it shouldn’t happen in theory, we often see incorrectly issued 1099s. And with the increased 1099-K reporting coming up, we’re expecting to see many additional 1099s that are not correctly reported. For example, you may have...
Is Delaware a Tax Haven? Top 10 Tax Tips for Businesses
While Delaware cannot be considered an "offshore tax haven," the state is still considered a tax haven for many. And as the state provides tax incentives for different legal entities, it is still not quite a haven for all of them. As a...
Where’s My 2022 Tax Refund? 5 Reasons You Haven’t Received It
If you’ve filed your return and haven’t received your refund this tax season, then we’ll cover the top five reasons in this article. We’ll also provide the information and links on how you can resolve some of these issues directly with the...
Quarterly Estimated Tax Payments for Business Owners: How Much Should You Pay?
Most business owners are familiar with the idea that the IRS has quarterly tax requirements, but we’re often asked about how much should be paid. Our answer is – it depends. Business owners are usually in different situations, and we have explained the three options...
Top 5 Tax Benefits of Real Estate Investments
Real estate is widely known as a tax-advantaged investment. However, we will often see individuals purchase and sell real estate, assuming they will receive the benefits. Yet, these real estate investors often miss out on some of the most material tax savings for real...
IRS FAQ: Does My Business Need to Issue any 1099-MISCs or 1099-NECs by January 31?
As a general rule, businesses that pay an individual or another business over $600 a year in cash, check, or other transfer (excluding credit card payments) should issue a 1099. There is a penalty per 1099 that is not correctly and timely...
10 Tips to Stay Out of Trouble with the IRS
From our experience working with individuals to get them out of IRS trouble, we have developed this short list of tips to stay out of trouble with the IRS. While there are many ways to get the attention of the...
10 Tips to Reduce Your Chance of Tax Audit in 2021
While there is no way to know the exact audit formula for the Internal Revenue Service, there are certain items that we often see the result in IRS audits and items that often become the focus of audits once an IRS agent is involved. IRS...