5 Things You Should Know About Professional Business Tax Planning Service

Tax planning is a critical component of any successful business's financial strategy. Professional tax planning services help businesses minimize the amount they pay in taxes while ensuring they are compliant with all applicable laws and regulations. With the right professional business tax planning service, you can maximize your business profits and save on costly mistakes that could lead to hefty penalties or fines. Here are five things you should know about professional business tax planning services.

These Types Of Property Can Be Exchanged Via A Drop And Swap 1031

Are you thinking about completing a drop-and-swap 1031 transaction? There are many reasons why you might be considering this type of property swap, but you first need to know what kinds of property qualify.  Not sure what kind of property is eligible for this kind of transaction? Here is a look at the types of property that can be exchanged via a drop-and-swap 1031 transaction. Multi-Family Rentals One type of property that can be exchanged via a drop-and-swap 1031 transaction is multi-family rentals.

5 Tips To Help You Surive A Payroll Audit

Often, a tax audit doesn't look at every detail of your return. Instead, it focuses on a single element of your return. If you own a business with employees, one of the potential audits you may face is a payroll audit. Here are five tips to help you survive a payroll audit.  1. Gather your payroll records. The IRS auditor will want to see your payroll records. Ideally, you should have detailed records that show how much you paid each employee plus the amounts you withheld from their paychecks for Social Security, Medicare, and income tax.