Month: August 2020

Should You Incorporate Your Business?

You may have started your business as a simple sole proprietorship that files its taxes as a Schedule C on your Form 1040. As your business grows, you may want to change the structure. Here are several scenarios where it may make sense to do just that. Reasons to Create Business Entities Establishing limited liability. The…

NEW Tax Rules for 2020!

Here are several new tax rule 2020 passed this year to consider as you start planning your   tax obligation.   Make up to $300 of charitable contributions. For the new tax rule  2020 tax year only, an above-the-line deduction of $300 is available to all Americans who want to make a charitable contribution. You can…

new tax rule 2020