Whether you’re in the midst of a divorce, have been divorced for years, or are married with a prenup, it’s critical that you meet with your Personal Family Lawyer® and qualified tax advisor to discuss how this provision of the TCJA stands to affect you. Depending on your situation, you may modify your existing legal agreements to bring them into better alignment with the new rules or, establish a planning tool that could offset or lessen the new law’s impact on your tax obligations.
There are many factors to consider when deciding whether to change the structure of your small business especially if it is growing and expanding. By this, for any type of change, it is important to make sure that you complete all the notifications and registrations required by the state law. If you need help in implementing the business structure that is the most advantageous for your individual circumstances, consult with us so we can guide you step by step with the process.
It is important to act as soon as possible and implement these four-year end—and other—year-end tax-saving strategies to lock in your savings and save your family thousands of dollars on your 2019 tax bill. Grabbing these opportunities before they vanish for good helps you get closer to your financial goals. Here are some tax-saving strategies should you consider at the end of 2019.
It is critically important to be knowledgeable about the type of risks and legal issues your small business may encounter, especially if you are considering to start expanding your physical business or just starting a home-based business to ensure that your business is compliant with the law and that your interests are protected. With the help of an expert and with your knowledge of the issues you need to consider for your business, you will surely succeed in your new venture.
With the changes in the tax laws, it is very important that you are taking full advantage or are aware of the ways these changes can impact your business. Here are the major changes in the tax laws that can affect your business, be sure you understand them and are using them to help your business. You also want to be aware of the changes so your business is not being negatively impacted.