Business bad debt deduction and planning for your personal financial future
Business owners, your bad debts may be deductible
Business owners who hold a business-related debt that’s become worthless or uncollectible may be able to claim a “bad debt” deduction. But there are a few hoops to jump through and not all debts are eligible. This article examines those hoops. A sidebar touches on the accounting concept of “charge-offs” when it comes to business bad debts.
Making gifts to loved ones? Don’t forget tax planning
Many people want to pass assets to the next generation during their lifetimes, whether to reduce the size of their taxable estates, to help family members or to see their loved ones enjoy the gifts. This article explains how different gifted assets can produce substantially different tax consequences.
Act now to save 2019 taxes on your investments
Taxpayers with investments outside of tax-advantaged retirement plans might still have time to reduce their 2019 tax bills by selling some investments. One key question is: Which ones? This article offers sound advice on how to start making the right choices about selling.
Living the dream of early retirement
Many people dream of retiring early so they can pursue activities other than work. But making this dream a reality requires careful planning and diligent saving during the years leading up to retirement. This brief article touches on some of the fundamental ways to live the dream.
About Batley CPA
Batley CPA, LLC is a full-service CPA firm providing tax, accounting, payroll and advisory services to businesses and individuals throughout Green Bay and the Fox Cities. Batley CPA regularly provides clients with best practices and strategies to maximize cash flow, profit, reduce taxes, manage costs and risk, and bring meaning to financial and operational data. The company has offices in Appleton, Neenah and Green Bay.
View original article on bad debt deduction here.