Business Wise Blog
Tax Strategies to Help Your Business Keep More
Practical guidance on reducing taxes for LLCs, partnerships, S Corps, and C Corps — plus the latest IRS developments that affect your bottom line.
Featured Articles
Year-End Tax Saving Strategies for Businesses and Their Owners
10 powerful year-end tax strategies across every business structure — Schedule C, Partnerships, S Corps, and C Corps — that can lead to significant savings before December 31.
PTET: How S Corp Owners Can Cut Their Tax Bill
The Pass-Through Entity Tax lets S Corp shareholders and partners deduct state taxes at the business level — bypassing the $10,000 SALT cap and saving thousands.
Hiring Your Kids: The Tax Strategy That Pays Your Family and Cuts Your Tax Bill
Putting your children on payroll is one of the most powerful and underused tax strategies for small business owners. Learn the rules, the savings, and how to do it right.
All Articles
Top Tax Deductions Every LLC Owner Should Be Taking
From home office expenses and vehicle use to health insurance premiums and retirement contributions — LLCs have powerful deductions available that many owners miss. Here's what to claim before year-end.
How Partnerships Can Reduce Self-Employment Tax
General partners pay SE tax on their full distributive share. Strategic use of limited partnership interests and guaranteed payments can significantly reduce that burden — legally.
The S Corp Salary Strategy: How to Pay Yourself Less in Taxes
Splitting your income between a reasonable salary and distributions is one of the most effective ways S Corp owners reduce self-employment taxes. Learn how to structure it correctly.
C Corp Tax Planning: Using the 21% Flat Rate to Your Advantage
The Tax Cuts and Jobs Act locked in a 21% flat corporate rate. For high-earning businesses, retaining income at the corporate level can be a smart tax deferral strategy — if structured properly.
IRS Updates Retirement Contribution Limits for 2025 — What Business Owners Need to Know
The IRS raised contribution limits for SEP-IRAs, Solo 401(k)s, and SIMPLE IRAs. Business owners who act before year-end can shelter significantly more income from federal tax.
Should Your LLC Elect S Corp Status? A Tax Comparison
Once your LLC nets $50,000+ in profit, electing S Corp taxation can cut your self-employment tax bill substantially. We break down the numbers and the trade-offs.
Bonus Depreciation Phase-Down: What It Means for Your Equipment Purchases
Bonus depreciation dropped to 60% in 2024 and continues to phase down. If you're planning major equipment or asset purchases, timing matters more than ever.
Qualified Business Income Deduction for Partnerships: Are You Claiming It?
The Section 199A QBI deduction can reduce taxable income by up to 20% for eligible partnership income. Many business owners leave this deduction on the table — don't be one of them.
Fringe Benefits That Are Tax-Free for C Corp Owner-Employees
Unlike pass-through entities, C Corps can provide owner-employees with tax-free health insurance, life insurance, and other fringe benefits — a major advantage often overlooked.
S Corp Basis Rules: Avoiding Unexpected Tax Bills on Distributions
Taking distributions beyond your stock basis triggers capital gains — sometimes unexpectedly. Understanding how basis is calculated and tracked is essential for every S Corp owner.
New IRS Guidance on Pass-Through Entity Taxes (PTET): A State-by-State Opportunity
Over 30 states now allow pass-through entities to pay state income tax at the entity level, creating a federal deduction that bypasses the $10,000 SALT cap. Here's how to take advantage.
Maximizing the Home Office Deduction for LLC Owners
The home office deduction is one of the most misunderstood write-offs for small business owners. We clarify the rules, the two calculation methods, and how to document it correctly.
Want a Tax Strategy Built for Your Business?
Reading about tax strategies is a start — but the real savings come from a plan tailored to your entity, your income, and your goals. Let's talk.