Carlos Samaniego EA - Redlands Tax Problem Solver

When you get busy with your business, it’s easy to forget about your retirement accounts and medical coverages and plans. But year-end is approaching, and now’s the time to take action.  I’ve included below six action steps for 2018 that can help you reduce your taxes and pocket extra money. Put ...

Starting now, this year (2018), you have to consider your Section 199A deduction in your year-end tax planning. If you don’t, you could end up with a big fat $0 for your deduction amount.  If your taxable income is above $157,500 (or $315,000 on a joint return), then your type of business, wages ...

You probably think you can’t take money out of your IRAs before age 59 1/2 unless you meet a narrow exception to the unpleasant 10 percent penalty on early distributions. But that’s not true. We have a variety of planning opportunities here.For example, you don’t pay taxes or the 10 percent penal...

The smell of a new car to start the year, it sounds and smells nice. If we can save taxes that makes it even better! Here are some things to consider, first ask your self some two questions.The Two questions: Do you need a replacement business car, SUV, van, or pickup truck? Do you need tax deduc...

Tax reform made many good changes in the tax law for the small-business owner. But the changes to the net operating loss (NOL) deduction rules are not in the good-changes category. They are designed to hurt you and put money in the IRS’s pocket. Now, if you have a bad year in your business, the n...