HOW YOU’RE MISSING LEGAL TAX DEDUCTIONS
Here’s a certain truth: the State and Federal Government would love to have more of your hard-earned money in their accounts. Sure, even though it’s painful, none of us begrudge paying our legal and fair share of taxes.
But the problem is that regular taxpayers, like you, are missing out on legal and safe deductions, to the tune of hundreds of millions of dollars in unclaimed refunds every year!
sIMPLE & OFTEN OVERLOOKED TAX SECRETS for individuals, families and business owners
Believe it or not, tax software and untrained tax professionals miss obvious deductions all the time. There are many ways we may be able to help you save money on your taxes and we’re sharing a few of our strategies with you in our free tax domination reports.
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Absolutely AmazingRecent Posts
Season’s Greetings From Trent Accounting
Season’s greetings from the Trent Accounting team. For you and me both, this week can feel like a blur – trying to finish out last-minute year-end tax moves while making sure the books are wrapping up nicely. And while it’s rather fast-paced here at Trent...
What Are The Year-End Tax Moves to Make Now For Parma Business Owners?
Key TakeawaysIt is not too late to create meaningful tax savings before December 31, but the remaining moves are very timing-sensitive. Low-cost, in-stock equipment and supplies are the most realistic last-minute purchases that can still be deducted this...
Big Beautiful Bill Details Parma Business Owners Might Have Missed
Key Takeaways The more favorable EBITDA-based business interest deduction limit is back for your 2025 tax year. (New restrictions are coming in 2026.) New R&E rules aren’t automatic. Retroactive benefits for 2022–2024 require elections, deadlines, and...
What Payroll Checklist Steps Do Parma Business Owners Need to Complete Before December 31?
Key TakeawaysVerify all business and employee information early. Even small errors in EINs, addresses, or Social Security numbers can create big filing issues. Review 2026 compensation rules now. State and local minimum wage increases and the Social Security wage...
Parma Small Business Holiday Expenses: What Can I Deduct On Taxes?
Key TakeawaysCompany-wide holiday parties for employees are generally 100% deductible, as long as they’re not exclusive to owners or managers. Meals with clients are typically only 50% deductible, and entertainment remains 0% deductible. Employee gifts can...
Can Parma Investors Use Losses To Lower Capital Gains Federal Tax?
Key TakeawaysYou can sell losing investments to realize a capital loss that offsets taxable gains. If your losses exceed gains, you can deduct up to $3,000 against ordinary income ($1,500 if married filing separately). Unused losses carry forward...
Linda Trent’s Perspective: What Are The Most Important Cybersecurity Measures for Small Businesses?
Key Takeaways Create a written data protection policy. Every employee should know the rules for handling sensitive data. Back up data regularly with secure cloud services or encrypted physical backups. Encrypt everything so stolen data is useless to...
Can End-Of-The-Year Giving Mean Tax Deductions For My Parma Business?
Key Takeaways Your business can give back and receive tax benefits if the donation is correctly structured and documented. Charitable contributions to qualified 501(c)(3) organizations can be deductible, but how you claim the deduction depends on your business...
The Work Opportunity Tax Credit: Year-End Hiring Benefit for Parma Businesses
Key TakeawaysYes, the WOTC applies if you hire someone before December 31, 2025. You must submit IRS Form 8850 to your State Workforce Agency (SWA) within 28 days of the new employee’s start date. The credit can be worth up to $2,400 per eligible...
Why Cash Flow Management Is Important At Year-End in Your Parma Business
Key Takeaways Profit doesn’t equal liquidity: You can look great on paper (i.e., profitable) and still run out of cash. Year-end cash flow management is about accelerating what comes in and strategically optimizing (delaying) what goes out (legally, of...