If you think that your present tax accountant (if you have one) is providing you with all of the tax planning advice you need, then you should think again.
A member of the American Institute of CPAs and the VA Society of CPAs..
He holds a Masters of Science degree in Taxation (from the American University) and a Bachelors of Science degree in Commerce - Accounting (from the University of Virginia\'s Mc Intire School of Commerce).
C.
Inglese, P.
About the Author: Chris Inglese is a Certified Public Accountant in Mc Lean, Virginia, with over 35 years of professional experience with the international accounting firm of Deloitte (formerly Touche Ross & Co) and his own firm, Christopher J.
Consider a Section 444 fiscal year election to possibly defer taxes and improve personal tax planning.
Avoid making "quarterly" estimated tax payments, and incurring penalties, by having the "safe harbor" amount of taxes withheld from your yearly salary.
Contribute up to 100% of your earnings, and/or your employee-spouse\'s earnings, to a One-Person 401k plan.
Save self-employment tax (Social Security tax and Medicare tax), as well as Obamacare tax, by paying yourself a low but "reasonable" salary from your S Corporation.
Here are just a few examples of how TAX Strategies FOR THE One-Person BUSINESS (2017 / 2018) might help you save hundreds, if not thousands, of tax dollars each year: Determine whether your business should incorporate, or if your LLC should make an election to be taxed as a regular C corporation or an S corporation.
You are therefore the person ultimately responsible for reducing your own tax burden.
Most tax preparers unfortunately spend their time just recording the past and filling out tax forms.
The typical tax preparer, and even the average CPA, lacks the graduate tax education and/or professional experience needed to advise you of all the tax-saving Strategies available to the One-Person business.
If you think that your present tax accountant (if you have one) is providing you with all of the tax planning advice you need, then you should think again
