What should you do if you don’t want to be “wrongly accused” and caught up in the crack down on billions of taxable income dollars that go unreported via payments on apps like Venmo and PayPal?
Tax Planning
Great. One more tax to pay. But this one can save you money. Let us help make it easy… complete with pictures.
The Employee Retention Tax Credit (ERTC for short, ERC for even shorter) is coming around for its sequel.
The IRS has released its statistics from 2019 filed tax returns… great, maybe now they can start answering the phone.
This is interesting data and will be utilized for all kinds of important matters, such as: census data, political wrangling, arguments for/ against income inequality, arguments for/ against “paying their fair share”, informing tax policy and enforcement matters, and measuring contests… to name just a few.
What’s the breakdown? Keep going and find out!
A pragmatic person may ask “How is this going to get paid for?”… drumroll please… TAXES!
By far, the number one question we hear, typically thrown out in almost “hey why not” fashion, is: “What can I do to pay less in tax?”
SALT Workaround? Strategies to unfold as to where and how revenue is recognized, to entity selection, to ownership considerations, to the type and timing of revenue recognition. Lets Go!