Tax Advisory – Goodman CPA – Black Mountain, NC

Tax Advisory

Maximizing Tax Efficiency: Tax Savings Strategies for Direct Primary Care and Cash Pay Medical PracticesWebinar Recap: Mastering Tax Strategies for Small Business Growth [Webinar Recap]

We recently hosted a webinar packed with valuable insights on tax strategies for small business owners looking to boost growth and streamline their financial processes. From understanding tax-saving opportunities to structuring your business for maximum efficiency, our team walked through actionable tips and practical advice that can help you take Read more…

By Alexandra Garrison, 3 weeksNovember 19, 2024 ago

Small Business Tips

Top Tax Credits and Incentives for Small Businesses

Small businesses often overpay taxes due to lack of awareness about available savings opportunities. Having a tax advisor or CPA can help ensure compliance with IRS regulations while identifying potential tax breaks. This article covers some common tax credits and incentives for small businesses. Qualified Business Income (QBI) Deduction The Read more…

By John Franklin, 1 monthOctober 29, 2024 ago

Tax Advisory

Avoid Tax Surprises with Quarterly Tax Payments

Staying ahead of your tax obligations and minimizing surprises is crucial for any business owner. One effective strategy to achieve this is by making quarterly tax payments. This proactive approach not only ensures compliance with IRS regulations but also helps you manage your cash flow and minimize your overall tax Read more…

By Alexandra Garrison, 3 monthsSeptember 9, 2024 ago

Tax Advisory

Navigating Tax Advisory: Your Questions Answered

At Goodman CPA, we know that tax advisory can be complex and sometimes overwhelming. That’s why we’re here to address your most pressing questions and help you understand how tax advisory services can benefit your business. What is Tax Advisory? Tax advisory involves providing expert advice on tax strategies, planning, Read more…

By Alexandra Garrison, 3 monthsSeptember 2, 2024 ago

Core Strategies

Tax-Free Income with the Augusta Strategy

Generating tax-free income is a dream for many business owners, and the Augusta Strategy offers a unique opportunity to achieve this by renting your residence to your business. Named after the Masters Golf Tournament held in Augusta, Georgia, this strategy can provide substantial tax benefits when implemented correctly. Here’s how Read more…

By Alexandra Garrison, 4 monthsAugust 26, 2024 ago

Core Strategies

Benefits from the Home Gain Exclusion

As a professional, you have the opportunity to save significantly on taxes through the home gain exclusion when selling your primary residence. This strategy allows you to exclude a large portion of the gains from the sale of your home from your taxable income, providing substantial financial benefits. Let’s explore Read more…

By Alexandra Garrison, 4 monthsAugust 22, 2024 ago

Core Strategies

Defer Taxes with the 1031 Exchange

For real estate investors, the 1031 exchange is a powerful tool to defer capital gains taxes and boost portfolio growth. This strategy allows you to reinvest the proceeds from a property sale into a like-kind property, effectively deferring the taxes that would otherwise be due on the sale. Here’s how Read more…

By Alexandra Garrison, 4 monthsAugust 19, 2024 ago

Bookkeeping

Save on Taxes with Accountable Plan Reimbursements

Improving cash flow and saving on taxes is a priority for any business. One effective strategy to achieve these goals is through accountable plan reimbursements. Let’s explore how this approach benefits your business and provides significant tax advantages. Key Benefits of Accountable Plan Reimbursements Tax-Free Reimbursements: Accountable plans allow you Read more…

By Alexandra Garrison, 4 monthsAugust 15, 2024 ago

Core Strategies

The Benefits of Offering Employee Rewards & Bonuses

Rewarding your employees not only boosts morale but can also provide significant tax savings for your business. By optimizing achievement awards and bonuses, you can show appreciation for your team while maximizing your tax benefits. Here’s how you can make the most of these opportunities. Key Strategies for Tax-Efficient Employee Read more…

By Alexandra Garrison, 4 monthsAugust 12, 2024 ago

Core Strategies

Discover Tax Savings by Hiring Family Members

Hiring family members in your business can provide substantial tax benefits. This strategy not only helps reduce your taxable income but also allows your family to gain valuable work experience. Let’s explore how employing your children or other family members can lead to significant savings for your business. Key Advantages Read more…

By Alexandra Garrison, 4 monthsAugust 8, 2024 ago