TaxConnections

Access Leading Tax Experts And Technology
In Our Global Digital Marketplace

Please Type Topic Into Search Bar

What Is The Best Defense With The IRS?

Federal Tax Audits
TaxConnections Members... Answer This Question Want To be One of Our Tax Experts? Register Here

Tax Professional Answers

User Photo
Kazim Qasim, EA, CTC
Planning is the key to legally beating the IRS. It doesn’t matter how good your accountant is at tabulating a stack of receipts on April 15; if you didn’t know you could set up a Section 105 plan and write off your kid’s braces as a business expense, there’s nothing you can do at that late date—you simply lose that deduction forever!

Tax planning guarantees results. You can spend all sorts of time, effort, and money promoting your business in the hope that doing so will increase revenues. At the same time, you can definitely set up a medical expense reimbursement plan and deduct your child’s braces as business expense for guaranteed tax savings. Why would you work so hard to increase revenues while ignoring the guaranteed savings that are baked into the tax code?
Leave a Comment 86 weeks ago


Meet Leading Tax Advisors

User Photo John Stancil

Professor

Lakeland

User Photo Peter J. Scalise

Federal Tax Credits & Incentives Practice Leader

New York, NY

User Photo John Dundon, II EA

Tax Director

Denver, CO

User Photo William Rogers, CFP, MBA, EA

CEO/Certified Financial Advisor

Rancho Santa Fe, CA

User Photo Monika Miles

President

San Jose, CA

User Photo Blake Christian

Tax Partner

Long Beach/ Park City, CA

User Photo John Richardson

Lawyer

Toronto, Canada

 

View/Select our Current List of Tax Topics

# A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

Previous PageNext Page

INCREASE KNOWLEDGE WITH EVERY ISSUE OF TAXCONNECTIONS

 

Learn from tax advisors, straight to your inbox

Update My Email Address
Contact Us Today