Latest articles by Bruce Willey, JD, CPA
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Why a Wealth Tax Would Be Terrible for American Taxpayers
An upcoming Supreme Court case about unrealized gains could decide the fate of a potential federal wealth tax. In the meantime, let’s consider the implications.
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Business Owners Need Tax Planning Strategies More Than Ever
A landmark tax case before the U.S. Supreme Court about unrealized gains underscores business owners’ need for tax mitigation planning.
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How Should a Small Business Plan for Rising Taxes?
Instead of expecting your CPA to go above and beyond, owners of small businesses should take ownership of their own tax planning and/or seek specialized advice elsewhere.
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Need to Create a Business Tax Plan? How to Work With Your CPA
An honest conversation can determine whether your CPA is able to meet your tax planning needs, and if so, getting prepared yourself is imperative to make it possible for them to do a good job.
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Buckle Up: What the Inflation Reduction Act Means for Your Small Business
small business Your cost of doing business could be going up for two main reasons. Prepare now with these five tips.
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So You Got a Letter from the IRS
tax filing Before you panic and assume the worst – such as a full-blown audit – take a breath. It may be nothing. Follow these steps to start figuring out what’s up.
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Captive Insurance for Pandemics? What Small Businesses Can Do
small business The pandemic has revealed gaping holes in traditional insurance coverage for small businesses. Private insurance, including captive insurance, may be able to help.
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There’s Never Been a Better Time for Business Owners to Make a Move
small business The uncertainties surrounding COVID-19 and our upcoming election may make business owners nervous, but they also may present opportunities … for those who can plan two years ahead.
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Audit Alert: Why Business Owners Shouldn’t Be Spooked by Captive Insurance
small business You may have heard that this type of self-insurance is ripe for tax abuse, but when used correctly, it’s completely legit. So don’t shy away unnecessarily.
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PPP Tips: 6 Things to Discuss with Your Accountant Now
small business loans The Paycheck Protection Program keeps evolving. Here’s the latest on how small and midsize businesses should navigate the loan forgiveness twists and turns.
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Don't Let the Drama Surrounding PPP Distract You from Running Your Business
business If you're so wrapped up in worry about your Paycheck Protection Program loan not being forgiven, think about the worst-case scenario. It might not be as bad as you fear.
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Small-Business Owners Terrified of Keeping PPP Money Face Deadline Today
business The rules of the Paycheck Protection Program keep changing. And the latest rules change has some business owners thinking about giving their money back. Before they do, they should read this.
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The Stunning IRS Ruling That May Bankrupt Small Businesses That Took PPP Loans
small business loans The Paycheck Protection Program rolled out with great fanfare to help save small businesses during the coronavirus pandemic. But something the IRS just did could decimate much of that benefit.
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IRS Fires Warning Shot for Audits on Small Businesses Using Captive Insurance
business Should small-business owners be afraid of being held captive by 831(b) rule changes? Captive insurance has been a legal tax strategy for years, but the IRS is cracking down on bad actors.
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Small Businesses Should Jump on CARES Act Benefits Now
business I've never seen anything like the CARES Act for small businesses. Here's how to take advantage of this economic stimulus opportunity.
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Survival Tips for Small Businesses on the Edge Awaiting Stimulus Help
business The CARES Act could put money in Americans' pockets soon, but those checks and the relief for small businesses may not come soon enough for some. To hold them over, here are some strategies to try in the meantime.
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Entrepreneurs Pay Too Much in Taxes Because They Don’t Do This
business Tax planning isn't something a lot of owners of small businesses are passionate about, but for some, it could be a make-or-break proposition.
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How to Leave Your Business: A 5-Year Plan
business Building an exit strategy isn't something that comes naturally to most entrepreneurs, but it's an extremely important part of your business plan.
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There's a Way to Serve Your Business and Save on Taxes If You Think Big
business Business owners who really want to save on their taxes need to think beyond year-end tips and how to capitalize on the Tax Cuts and Jobs Act. Go bigger and dig deeper to save more.
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