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March 28th, 2018 posted by Dominique Molina (Taxloopholes.com Tax Strategist)

Many business owners, particularly during the start up phase, spent countless hours establishing the business, ensuring its viability, market testing, and setting pricing. While its certainly an exciting time for a new entrepreneur, most businesses aren’t yet producing enough cash flow to compensate the owner for this development time put in. If you do a []

March 12th, 2018 posted by Dominique Molina (Taxloopholes.com Tax Strategist)

One of the worst aspects of the changes to business deductions under tax reform, is the elimination of the entertainment deductions. This leaves many business owners examining their spending on these items to entertain customers, prospective clients, service providers and others. And if you are reading this for the first time – surprise! Even the []

February 14th, 2018 posted by Dominique Molina (Taxloopholes.com Tax Strategist)

On December 22, 2017, the largest tax reform in three decades, Tax Cuts and Jobs Act, was passed.  The article is dedicated to providing some guidance on the tax reform and aid in preparing for planning 2018.  The reform impacts individuals and business taxes in 2017 and beyond. While much of the impact will be []

February 7th, 2018 posted by Dominique Molina (Taxloopholes.com Tax Strategist)

Congress recently passed sweeping tax reform legislation in the Tax Cuts and Jobs Act, and the President signed it into law on December 22, 2017. In addition to many other changes, some of which (such as the lower corporate tax rates) have been discussed at length in the media, the legislation makes significant changes to []

January 30th, 2018 posted by Dominique Molina (Taxloopholes.com Tax Strategist)

Selling your business can be bittersweet. On the one hand, it means that you’ve built up something that’s successful enough someone else is interested in carrying on the legacy. On the other hand, it means the end of an era, the closing of a chapter. Selling your business also has some implications from the tax []

January 23rd, 2018 posted by Dominique Molina (Taxloopholes.com Tax Strategist)

Having a small business can, for some people, actually be beneficial in terms of taxes. The amounts and types of deductions you can qualify for can, especially for a business in its early days that isn’t making much money yet, put you in a position where you owe very little in taxes. And, while you []

January 16th, 2018 posted by Dominique Molina (Taxloopholes.com Tax Strategist)

A timeshare is not only a great opportunity to get away for a while, it can be a wonderful investment. Not only does your timeshare qualify for some of the same types of deductions that other property would get you, there are some specific types of deductions you may be able to claim depending on []

January 9th, 2018 posted by Dominique Molina (Taxloopholes.com Tax Strategist)

Just because you’re hiring someone to do your taxes doesn’t mean you want to pay them more than what’s necessary. If you show up at your tax professional’s office with shoeboxes full of receipts, she can absolutely turn that into a tax return; however, it’s going to take much longer than it would if you []

January 2nd, 2018 posted by Dominique Molina (Taxloopholes.com Tax Strategist)

As a hard-working honest business owner, you do your best to pay your taxes, but no more than you have to. You’re more than willing to pay your fair share, but you also know that you won’t be paying anything if your business isn’t profitable. So, you work with a tax professional to identify areas []

December 26th, 2017 posted by Dominique Molina (Taxloopholes.com Tax Strategist)

An integral part of your success in a startup business is making sure you’re in a good place from the tax perspective. You need to be able to get through those first couple of years without a heavy tax burden, and reaping the benefits of having a business loss. Once your company is turning a []

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