Author Archive: bobmcoastfinancialservices

Buying your Building.

Below is an excerpt from Thompson PPPC that exemplifies one of CFS’ basic strategies: encourage business owners to purchase the building they operate out of. Please review for your benefit. Thank you – Bob Use of rentals exception can cut self-employment tax Taxpayers who own closely held businesses can maximize their tax savings by taking …

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Tax Rates for the 2012 Tax Year

Tax Rates for the 2012 Tax Year Federal income tax brackets for 2012 2012 Tax Rates The year 2012 could be the last year for America’s current tax rate structure. Six tax rates, ranging from 10% to 35%, have been in place since 2003. The Tax Relief Act of 2010 temporarily extended the current tax …

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Election for Husband and Wife Unincorporated Businesses

Election for Husband and Wife Unincorporated Businesses An unincorporated business jointly owned by a married couple is generally classified as a partnership for Federal tax purposes. For tax years beginning after December 31, 2006, the Small Business and Work Opportunity Tax Act of 2007 (Public Law 110-28) provides that a “qualified joint venture,” whose only …

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Hello world!

Welcome to the tax blog of Coast Financial Services, Inc.  Our goal is to provide information with regard to tax compliance and planning topics.

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