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Tag Archives: Small Business

2 benefits-related tax credits just for small businesses

By Legacy Protection, LLP |

Tax credits reduce tax liability dollar-for-dollar, making them particularly valuable. Two valuable credits are especially for small businesses that offer certain employee benefits. Can you claim one — or both — of them on your 2015 return? Retirement plan credit Small employers (generally those with 100 or fewer employees) that create a retirement plan may… Read More »

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There’s still time to benefit on your 2016 tax bill by buying business assets

By Legacy Protection, LLP |

In order to take advantage of two important depreciation tax breaks for business assets, you must place the assets in service by the end of the tax year. So you still have time to act for 2016. Section 179 deduction The Sec. 179 deduction is valuable because it allows businesses to deduct as depreciation… Read More »

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Proposed Tax Changes

A quick look at the President-elect’s tax plan for businesses

By Legacy Protection, LLP |

The election of Donald Trump as President of the United States could result in major tax law changes in 2017. Proposed changes spelled out in Trump’s tax reform plan released earlier this year that would affect businesses include: Reducing the top corporate income tax rate from 35% to 15%, Abolishing the corporate alternative minimum… Read More »

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