TAXES
TAX SAVINGS – USE “SECTION 179”
By Tom Martino at October 30, 2014 | 11:38 am | 80 Comments
The IRS has a section of the code that allows you to take a deduction for the purchase of business equipment, all in one year, instead of spreading it out over many years in "depreciation". As the name implies, the section of the IRS code is #179. more...
TAX DEDUCTIONS & CREDITS: KNOWING THE DIFFERENCE
By Tom Martino at October 30, 2014 | 10:49 am | 47 Comments
This may seem obvious to some but there is much confusion over the difference between a tax "deduction" and a tax "credit". A tax deduction gets subtracted from your taxable income, which in turn lowers your taxable income, which lowers your taxes. more...
COMMAND YOUR 401K
By Tom Martino at October 20, 2014 | 12:54 pm | 79 Comments
If you have a 401K it may be possible for you to move it to an IRA and have more control over where you invest. more...
THE SOLE PROPRIETOR” CYCLE OF DEATH”
By Tom Martino at April 7, 2014 | 9:14 am | 46 Comments
Over the years I have seen many small businesses fail - mostly sole proprietorships. As the name implies a sole proprietorship is a business owned by one person who runs it mostly by themselves. They don't fail suddenly; It usually happens over a period of time after entering what I call the "Cycle of Death". Here is how that cycle progresses: The owner needs more...
