Weekly Tax Tips January 15th

Weekly Tax Tips

January 15, 2024

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Trivia Question❓

In the world of growing businesses, cutting taxes can provide a sigh of relief. But do you know which tax deduction was implemented in 2018 to help boost small businesses?

Answer at the bottom of the newsletter

Tip of the Week

A fun and useful tip for growing your business while cutting taxes: Consider investing in solar panels for your office or workspace.


Not only will this help you save on energy costs, but it also makes you eligible for various tax incentives and credits, such as the Investment Tax Credit (ITC) and the Modified Accelerated Cost Recovery System (MACRS).

Plus, going green is always a good way to attract eco-conscious customers and employees!

Interesting Facts

  • Many growing businesses can take advantage of tax deductions and credits specifically designed to promote growth and innovation. These incentives range from research and development tax credits to tax breaks for investments in new equipment or employee training.


  • Some countries offer tax incentives to encourage entrepreneurship and attract foreign investments. For instance, certain governments may provide reduced corporate tax rates or exemptions for a specified period to startups and growing businesses that meet certain criteria.


  • Effective tax planning can help growing businesses reduce their tax burden legally. Techniques such as deferring income, accelerating expenses, and utilizing tax-friendly structures like limited liability companies (LLCs) or S corporations can help optimize tax savings and keep more money within the business for further growth.


You Deserve a Laugh

Why did the accountant bring a ladder to the business meeting?

Because they heard the profits were skyrocketing and they wanted to climb the tax bracket!

Quote of the Week

"Lowering taxes for growing businesses is not just about increasing profitability, but also fostering innovation, driving economic growth, and ultimately creating more jobs and opportunities for all."

Got High School Age Kids?

Secrets to College Admissions & Financial Aid for 2024


College Financial Aid Expert Seth Greene,
College Admissions Expert Anne Marie Deluca Comaratta, and
Certified Tax Coach and CPA Gary Heldt present:

Secrets to College Admissions & Financial Aid for 2024

Register to attend this educational online event and discover secrets to:

College Admissions
Scholarships
SAT testing
Loan repayments
FAFSA changes from 12/31/2024
Pell Grant
Income Protection Allowance
Asset Protection Allowance
Cost of Attendance
How Your Taxes affect your financial aid
Plus much more, including:

a HUGE CHANGE that affects families with MULTIPLE CHILDREN that will make college A LOT MORE EXPENSIVE.

This online event is educational only.
Nothing will be sold at this event.


Register HERE

💡 Answer to Trivia Question:

The Tax Cuts and Jobs Act introduced the Qualified Business Income (QBI) deduction, also known as the Section 199A deduction, to offer significant tax savings for eligible small business owners.