What is the Net Investment Income Tax (NIIT), and how can I minimize it?

The net investment income tax, or NIIT, is a 3.8% tax that applies to individuals, estates and trusts with net investment income above the applicable threshold amounts. In the case of an individual, the NIIT is 3.8% of the lesser of: The NIIT was part of Obamacare and took effect on January 1, 2013. What […]

Should my business be an LLC or an S corporation?

This is one of the most frequently asked questions we get from small business owners. Like many questions, the answer is, “It depends!”. We will explain a few of the nuances, but it generally boils down to the following three questions: Are you forming an entity to invest or to operate a business? Unlike S […]

Communication with Strategis

The security of your tax and accounting documents is vital to us. Cybercrime is rising, and your documents must be delivered in a secure, spam-free, phish-free environment. Email is no longer safe, as most data breaches begin with a spam email. We use Liscio for secure document and file transfer. Liscio for Secure File Transfer […]

Can My Business Make a Deductible Donation to Charity?

Yes. However, the business owners contributing must itemize their deductions on their tax return to receive a tax benefit for the deduction. This is because charitable contributions are separately stated and passed through to the owners of a sole proprietor, single-member LLC, or pass-through entity such as an S corporation or partnership. Instead of deducting […]

Are gifts to clients tax deductible?

Gifts to clients can be a excellent gesture for strengthening relationships and building more business opportunities. Depending on the person and situation, a gift can pay dividends in various ways. Unfortunately, the tax benefits of business-related gifts are not substantial. Business gifts face strict deduction limits: Another important distinction is that any item considered a […]

Unlock Your Business Potential

Dive into “10 Mistakes that Increase Your Risk of a Tax Audit” and discover actionable strategies to enhance your cash flow and elevate your business.