Tax Blog

Business Taxes with Roman Basi, CPA and Attorney at Law

Tomorrow, Wednesday at 11am CST, Roman Basi will host a Center Webinar on the subject of business taxes.

Does any of the following situations apply to you?

  • Did you sell a piece of machinery last year that you had for 15 or so years?

  • Did you sell an old building and then buy a new building to expand operations?

  • Are you deducting mileage expense on a vehicle?

  • Are you using a portion of your house as a home office?

  • How about that smart phone you have? Is that eligible for a viable business expense?

Each one of these questions has a harsh tax consequence. If you aren’t aware of it, the impact can really weaken your financial position.

The fact of the matter is that barely anybody plans on tax strategies until it is too late. That machinery that owned for 15 years and sold, will probably be taxed for the full sale amount as ordinary (not capital) income. The building you sold will probably be subject to ordinary and capital gains taxes, instead of what could have been completely tax free. That vehicle, better keep a log book.

While 15 or 30 minutes is far too short to learn a working knowledge of the tax code, Roman Basi’s webinar will give you an introduction to the most complicated set of laws in the United States, the Internal Revenue Code. Knowing that the potential for tax planning is a possibility, you can not only avoid potential tax land mines, it also gives you the opportunity to save taxes when the potential exists when looking to the future.

Additionally, since June of 2016, the House Ways and Means Committee has been working feverishly to improve the tax code on both the individual and corporate levels as well. Roman will discuss the potential for these changes as well.

Please join us tomorrow, Wednesday, the 22nd of February at 11am CST where Roman will give a webinar on Business Taxes.

Here is the link to our webinars where you can watch and listen to previous recordings as well:

http://www.taxplanning.com/webinars

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The Center for Financial, Legal & Tax Planning, Inc.

4501 West DeYoung Street | Suite 200 | Marion, IL 62959

Phone: 618-997-3436| Fax: 618-997-8370

info@taxplanning.com

© 2016 by The Center for Financial, Legal & Tax Planning, Inc.  at www.taxplanning.com