Tax Deduction Consulting: Corporate Tax Deductions Washington DC
Title: Financial Advisor
Company: Core Advisory, LLC
Registered Investor: Yes
Florida Tech /CFP
American Intercontinetal/BA - Maga Cum Laude
Institute of Business Finance/MSFS
Years Experience: 15
Wealth Management,Life Insurance,Investment & Portfolio Management,Long-Term Health Care Planning,Annuity Ideas & Strategy Planning,Planning For Personal Finances & Budgeting,Retirement Income Accumulation Planning,Business Income Tax Planning,Fee-Only Comprehensive Financial Planning,Stock Market Alternative,Disability Insurance,Retirement Planning,Real Estate Investment Planning,Commission-Only Financial Planning (Full Disclosure),Insurance & Risk Management Planning,Retirement Income Distribu
Years of Experience: 18
Invoice, Estate Planning, Portfolio Management, Retirement Planning, Tax Planning, Tax Returns, Employee Benefits, Stocks and Bonds, Mutual Funds, Annuities, Life Insurance, Disability Income Insurance, Long Term Care Insurance, Medical Insurance, Healthcare Accounts, Compensation Plans
Frank & Darby Doe
Years of Experience: 33
Invoice, Estate Planning, Business Planning, Retirement Planning, Tax Planning, Tax Returns, Mutual Funds, Annuities
Title: LPL Wealth Planner
Company: WealthPath LLC
Investment Advisor Rep: Yes
University of Oklahoma/MHR
University of Florida/BA
Years Experience: 7
Pension for Highly Compensated Owners,Income for Life/ Preserve Principal,Alternative Investments,Retirement Planning,Long-Term Health Care Planning,Business Succession & Liquidation Planning,Estate Tax Planning,Asset Protection Strategies & Planning,Hourly Financial Planning Engagements,IRA, 401k, Roth IRA, QDRO Rollovers,Wealth Management,Annuities,Alternative Asset Class Planning,Annuity Ideas & Strategy Planning,Planning For Personal Finances & Budgeting,Retirement Income Accumulation Planni
Integrity Financial Group, LLC
Education: B.A (Honors) Economics, St. Stephens College, DelhiAll India HS Humanities, Mayo College, Ajmer
Years of Experience: 27
IARFC, MDRT, FPA, SFSP, NAIFA
Invoice, Estate Planning, Business Planning, Pension Planning, Executive Compensation Planning, personal Coach, Retirement Planning, Tax Planning, Employee Benefits, Stocks and Bonds, Mutual Funds, Annuities, Life Insurance, Disability Income Insurance, Long Term Care Insurance, Medical Insurance, Group Insurance, Education Plan, Healthcare Accounts, Asset Protection, BuySell, Compensation Plans
The Planning Companies
Years of Experience: 19
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Tax Deduction Consulting: Corporate Tax Deductions
Check List of Corporate Tax Deductions
A Corporation is the only type of business entity in the United States that is required to pay "income tax" on its profits. That is why corporate tax deductions are so important.
The Corporation has several advantages over other forms of business. These advantages have most to do with liability protection to the owners. The Corporation isolates the business and its affairs from the personal affairs of the actual owners, who are the shareholders. This means that the Corporation must pay its own "income taxes." In the case of other business structures such as sole proprietorships, LLCs, and partnerships, the tax obligation is passed on to the owners directly. They then pay the income tax on the profits as part of their own personal income taxes.
Since the Corporation is treated much like an individual for the purpose of taxation, it is essential to make sure that only the fair and legal amount of tax is being paid. It may be nice to the ego of the managers to inflate the profit figures by ignoring some legitimate business expenses, but it is not wise from a taxation point of view to miss any deductions. So, what are legitimate business expenses?
Actually, any expense that is in anyway related to the goal of producing a profit can be deducted as a legitimate cost of doing business expense. This would include the pay and benefits of any and all employees. Even if the employees are substantial stockholders, they are still paid a salary and this salary is the basis for their own personal income tax. To the Corporation, this is just a deductible expense. The cost of benefits is included also as a deduction.
A checklist of Corporate Tax deductions would include virtually everything that is related to doing business. This is why proper accounting procedures are of paramount importance to any Corporation regardless of its size. Many small business owners are drawn to the idea of Incorporation for the liability protection an...