Maximize your Section 199A deduction before year-end with these strategies to reduce taxable income and increase tax savings. <a href="https://privatetaxsolutions.com/tax-tips/2024-last-minute-section-199a-tax-reduction-strategies-for-private-tax-solutions-clients/" class="more-link" rel="bookmark">Read More</a>
Learn when and why services are taxable in different states to ensure compliance and optimize pricing strategies for your business. <a href="https://privatetaxsolutions.com/tax-tips/when-are-services-taxable-a-guide-for-business-owners/" class="more-link" rel="bookmark">Read More</a>
Learn how to classify personal property rentals for tax purposes and optimize your rental income tax strategy. <a href="https://privatetaxsolutions.com/tax-tips/tax-treatment-of-personal-property-rentals-what-you-need-to-know/" class="more-link" rel="bookmark">Read More</a>
Learn effective steps to request IRS penalty relief, including first-time abatement, small partnership relief, and reasonable cause options. <a href="https://privatetaxsolutions.com/tax-tips/got-irs-penalties-heres-how-to-get-relief-without-paying/" class="more-link" rel="bookmark">Read More</a>
Learn the importance of IRS Form 1040, its variations, key sections, and tips for accurate filing and maximizing refunds. <a href="https://privatetaxsolutions.com/tax-tips/understanding-irs-form-1040-a-complete-guide/" class="more-link" rel="bookmark">Read More</a>
Nobody wants to spend their whole life looking over their shoulder, wondering if they’re going to be audited by the IRS... <a href="https://privatetaxsolutions.com/tax-tips/what-happens-when-you-die-and-your-s-corporation-owns-the-rental/" class="more-link" rel="bookmark">Read More</a>
If you run your business as a regular C corporation, beware of the accumulated earnings tax (AET). This lesser-known... <a href="https://privatetaxsolutions.com/tax-tips/avoid-the-hidden-dangers-of-the-accumulated-earnings-penalty-tax/" class="more-link" rel="bookmark">Read More</a>
Worrying about an IRS audit can feel daunting, but there’s good news: the IRS has a limited time frame to audit your... <a href="https://privatetaxsolutions.com/tax-planning/how-long-does-the-irs-have-to-audit-your-returns/" class="more-link" rel="bookmark">Read More</a>
You can accumulate federal income-tax-free earnings with a Section 529 college savings plan account. Then, you can take federal-income-tax-free withdrawals to cover qualified education expenses, usually for college. <a href="https://privatetaxsolutions.com/tax-planning/options-for-overfunded-529-college-savings-accounts/" class="more-link" rel="bookmark">Read More</a>
If you're trying to decide between leasing and buying your next business vehicle, one question is probably foremost in your mind: Which option costs less? <a href="https://privatetaxsolutions.com/tax-planning/buy-or-lease-a-business-vehicle-which-costs-less/" class="more-link" rel="bookmark">Read More</a>
