document.write('<a name="top"></a><p><b><font class="heading">Tax Saving Strategies For Business Owners</font></b></p><p><font class');
document.write('="text"><b><i>Here are 7 interesting (and fun) ways to save even more income taxes...</i></b></p><p><b>1. <a href="#1"');
document.write('>IRA Funding Trick</a><br>2. <a href="#2">A Special Retirement Plan</a><br>3. <a href="#3">Make Your Landlord Pay Fo');
document.write('r Improvements</a><br>4. <a href="#4">Deduct Home Entertainment Expenses</a><br>5. <a href="#5">Deduct Holiday Gifts');
document.write(' Without Receipts</a><br>6. <a href="#6">Deduct Your Home Computer</a><br>7. <a href="#7">Have Your Company Buy You ');
document.write('Supper</a></b></p><a name="1"></a><p>&nbsp;<br><b>1. Did you know you can use your previously funded IRA to fund the');
document.write(' current year\'s deductible contributions?</b></p><p>Well, you can. If you don\'t have enough cash to make a deductible ');
document.write('contribution to your IRA by April 15th, here is how you can still take the tax deduction. And have until June 12th to ma');
document.write('ke the full 4,000 contribution! To get started, all you need is a previously started IRA.</p><p>You begin by having $4');
document.write(',800 distributed to you from your IRA on April 15th. Your bank is required to hold 20% (income tax withholding), so you\'');
document.write('ll actually receive $4,000. Once you have the $4,000, immediately deposit it back into your IRA. If you do this before A');
document.write('pril 15th, this counts as your deductible contribution for the year. The best part of this is that you have 59 days to &');
document.write('quot;make up&quot; the withdrawal-or to be taxed. Simply deposit $4,800 &quot;rollback&quot; into the same IRA account b');
document.write('y June 12th to avoid taxes on the original $4,000 distribution made to you.</p><p>This is a type of short-term loan fr');
document.write('om your IRA to make this year\'s deductible contribution before the April 15th due date.</p><p>NOTE: Not all banks real');
document.write('ize it is required to withhold the 20% from the original $4,800 withdrawn from your IRA. Call to find out which way we c');
document.write('an help you work with this &quot;extra&quot; amount. There are many options, so get informed before you miss out on the ');
document.write('full benefits of your retirement plan.</p><p><a href="#top">Click here to return to the top menu</a> or simply continu');
document.write('e reading.</p><a name="2"></a><p>&nbsp;<br><b>2. We have a special retirement plan for you if you are self-employed ');
document.write('and involved in more than one business.</b></p><p>This is for you if you are self-employed and involved in multiple bu');
document.write('sinesses, even with partners.</p><p>A new tax act has made a change allowing you to contribute to a self-employed reti');
document.write('rement plan, on your own behalf, without requiring you to make contributions on behalf of your employees. The new act ha');
document.write('s repealed the so-called aggregation rules that previously applied to the self-employed retirement plans.</p><p>Under ');
document.write('the old rules, if a self-employed person owned, or was a part owner of more than one business, and a retirement plan was');
document.write(' provided for the employees in one business, law required that a retirement plan be provided for the employees of the ot');
document.write('her business(es). Beginning in 1997, this law removed this requirement!</p><p>If you own two businesses, the law allow');
document.write('s you the option of establishing a retirement plan for only one business (with the fewest employees), even if you work b');
document.write('y yourself in that business! The only limitation for this new law is that the amount of money you can contribute to a re');
document.write('tirement plan is based on the self-employment earnings generated by the business with the retirement plan.</p><p>In ot');
document.write('her words, if the business you own with (no employees) has smaller net earnings than the other business (with employees)');
document.write(', the amount you can contribute to a retirement plan will be based on the smaller net earnings.</p><p>While the rule c');
document.write('hange allows you to avoid contributing to a plan for your employees, it also means that you would be limited to making t');
document.write('he smallest (rather than the largest) potential contributions to your personal retirement plan.</p><p>We want to make ');
document.write('sure you are getting the most out of your financial future, so contact us to determine your eligibility and to optimize ');
document.write('the plan for you.</p><p><a href="#top">Click here to return to the top menu</a> or simply continue reading.</p><a na');
document.write('me="3"></a><p>&nbsp;<br><b>3. You can have your landlord pay for leasehold improvements at your place of business.</b>');
document.write('</p><p>Instead of paying for leasehold improvements at your place of business, you can ask your landlord to pay for th');
document.write('em. In return, you offer to pay your landlord more in the rent over the term of the lease. By financing your leasehold i');
document.write('mprovements this way, both you and your landlord can save money on taxes.</p><p>Ordinarily, you must deduct the cost o');
document.write('f leasehold improvements made to your place of business in an even fashion (over a 39-year period!). If the year your le');
document.write('ase term ends you move to another location, you can deduct the portion of the improvement cost you have not previously d');
document.write('educted. This normal scenario won\'t save you tax in the earlier years of the lease. Your landlord will have to put up th');
document.write('e initial cash for the improvements, but you will cover that over time with increased payments in your rent. Since your ');
document.write('landlord will be paying for the improvements, you will save tax early in the lease and your landlord will benefit as wel');
document.write('l!</p><p>During the same time, your landlord will gain depreciation deductions for the cost of the leasehold improveme');
document.write('nts. When you leave, your landlord will still have the improved property to offer other future tenants. It is a great op');
document.write('portunity for a win-win situation giving you faster access to invested monies.</p><p><a href="#top">Click here to retu');
document.write('rn to the top menu</a> or simply continue reading.</p><a name="4"></a><p>&nbsp;<br><b>4. Save by deducting home ente');
document.write('rtainment expenses.</b></p><p>You may not be able to treat your employees to meals at expensive restaurants or offer t');
document.write('hem season tickets, but you should deduct expenses for entertaining clients at home.</p><p>There are two basic kinds o');
document.write('f entertainment expenses. The first being direct entertainment expenses and the second is associated entertainment expen');
document.write('ses.</p><p>If you entertain at home for the purpose of business, and if the business takes place during the entertainm');
document.write('ent, then the cost of entertaining at your home is deductible as a direct entertainment expense. However, if the enterta');
document.write('inment occurs immediately before or after a business meeting, the cost is deducible as an associated entertainment expen');
document.write('se. These expenses are 50% deductible.</p><p>Many businesses are already enjoying this wonderful type of deduction and');
document.write(' are benefiting from it with a more social climate for conducting their business.</p><p>Ask us about your options conc');
document.write('erning this fun deduction. You might be pleasantly surprised about what you have been missing!</p><p><a href="#top">Cl');
document.write('ick here to return to the top menu</a> or simply continue reading.</p><a name="5"></a><p>&nbsp;<br><b>5. You can ded');
document.write('uct $25 Holiday gifts to associates even without a receipt!</b></p> <p>When you prepare your income tax return, don\'t ');
document.write('overlook the deductible benefit of holiday gifts. Whether you are a rank-and-file employee, a self-employed individual, ');
document.write('or even a shareholder-employee in your own corporation, you can deduct the cost of gifts made to clients and other busin');
document.write('ess associates as a business expense. You can do this any time of the year. The limit of the deduction is set at $25 in ');
document.write('value for each recipient for which the gift was purchased with cash.</p><p>A few years ago, the Tax Court allowed an i');
document.write('ndependent salesperson to deduct gifts to buyers, even though the buyers\' employers prohibited the acceptance of such gi');
document.write('fts. The Tax Court felt the gifts were not bribes but were a legitimate business expense. Because the gifts were small (');
document.write('less than $25, but totaling more than $2,000!), the taxpayer was not required to document the cash expenses with receipt');
document.write('s. The entries in the salesperson\'s daybook was acceptable proof.</p><p><a href="#top">Click here to return to the top');
document.write(' menu</a> or simply continue reading.</p><a name="6"></a><p>&nbsp;<br><b>6. Deduct your home computer.</b></p><p>T');
document.write('his is an approach for saving more on your income tax return for people who purchase a computer and use it for work-rela');
document.write('ted purposes. A recent Tax Court ruling may give you a tax deduction on your home computer. If you are an employee and w');
document.write('ant to deduct your computer, you first have to meet the requirement stating that the computer is used for convenience an');
document.write('d as a condition of your employment. As a result of the Tax Court ruling, if your employer limits your access to a compu');
document.write('ter at work (for security reasons) but still requires that the work be completed, then you can deduct the portion of the');
document.write(' cost of your computer that is allocable to business use.</p><p>It is important that you ask us if you qualify for thi');
document.write('s deduction.</p><p>Please call us for more information concerning this opportunity.</p><p><a href="#top">Click here ');
document.write('to return to the top menu</a> or simply continue reading.</p><a name="7"></a><p>&nbsp;<br><b>7. Have your company bu');
document.write('y you supper.</b></p><p>If you are in a partnership or a shareholder-employee in a regular C or S corporation, and you');
document.write(' have to work overtime, your company can, on occasion, provide you with dinner. The cost of such a dinner is 100% deduct');
document.write('ible for your company, and you don\'t even have to pay personal income tax on the value of the meal!</p><p>On top of th');
document.write('is, your company does not have to provide this fringe benefit to other employees who work late. But your company does no');
document.write('t have to directly pay you for the meal. Instead, it can provide you with supper money. In order for this to work, the a');
document.write('mount of dinner money has to be reasonable.</p><p>If the IRS decides that the amount of money you received was unreaso');
document.write('nable, the whole amount will be considered taxable personal income and will not be deductible.</p><p>We will be glad t');
document.write('o answer your questions concerning deductible dinners and any other questions you have, so call today so we can help you');
document.write(' start with this Section 132 &quot;de minimis&quot; fringe benefit.</p><p><a href="#top">Click here to return to the t');
document.write('op menu.</a></p>');