In this episode I’ll give you the specific steps and tax forms that need to be filed in order to become an S-Corp. I’ll even explain how to make the S-Corp election even if you are 3 years late. --- This episode is sponsored by · Anchor: The easiest way to make a podcast. https://anchor.fm/app

Tune into this week’s episode to learn the tax savings benefits of choosing an s-corp structure. --- This episode is sponsored by · Anchor: The easiest way to make a podcast. https://anchor.fm/app

In this podcast I discuss how you can tap into your 401k or IRA accounts if you have been diagnosed with COVID-19 or have had economic hardship during COVID-19. Use this method to get cash on hand now in times of need. --- This episode is sponsored by · Anchor: The easiest way to make a podcast. https://anchor.fm/app

The CARES act provides updated rules for the ability to take more of a deduction for charitable donations on your 2020 tax return. Tune in now to find out more how to start maximizing next years refund now! --- This episode is sponsored by · Anchor: The easiest way to make a podcast. https://anchor.fm/app

AMT is a separate set of rules and adjustments that must be applied to your tax return once you make a certain amount of income. It is designed to make sure people taking excessive deductions still pay some “minimum” tax. --- This episode is sponsored by · Anchor: The easiest way to make a podcast. https://anchor.fm/app

Businesses now have the ability to take advantage of the new NOL changes under the CARES act. If you had a taxable loss for your business in years 2017 or 2018 give this episode a listen. --- This episode is sponsored by · Anchor: The easiest way to make a podcast. https://anchor.fm/app

Get the latest depreciation updates from the CARES act to take advantage of fast cash now and the details of the refunded paycheck protection program for small businesses. --- This episode is sponsored by · Anchor: The easiest way to make a podcast. https://anchor.fm/app

Wanted to share with you guys an investment tip from the Tony Robins book Money Master the Game where he interviews one of the greatest wealth managers ever, Ray Dilao. --- This episode is sponsored by · Anchor: The easiest way to make a podcast. https://anchor.fm/app

Learn about what a part year and non resident income tax returns are and why it’s so important to know residency rules for taxation purposes.

DISCLAIMER: Mactax is not responsible for any financial advice given. Please do your own research and consult with your financial advisor before acting on any advice/opinions in this episode. --- This episode is sponsored by · Anchor: The easiest way to make a podcast. https://anchor.fm/app

The Further Consolidated Appropriations Act of 2020 made changes to traditional IRA's. These changes included removing the age cap to contribute to a traditional IRA, raises the age to 72 for RMD's, and changes the rules for inheriting a traditional IRA. Tune into this weeks episode to learn the full details about the FCAAs impact on traditional IRA retirement accounts and how to change your tax strategy to adjust for these new law changes.  --- This episode is sponsored by · Anchor: The...

Tax Season is upon us but don’t be too eager to file for that refund before you get all of your tax documents in! Filing too early could run you the risk of forgetting about certain tax documents you need to complete your return. Take inventory of 2019 and establish what you need and where you made money before filing. --- This episode is sponsored by · Anchor: The easiest way to make a podcast. https://anchor.fm/app

Can you deduct state taxes on your personal and business federal tax return? If so how much can you write off? Tune in to this week’s episode to find out! --- This episode is sponsored by · Anchor: The easiest way to make a podcast. https://anchor.fm/app