Tax planning is an important aspect of any business that should not be overlooked. Even though business owners have a lot of tasks to manage, tax planning can be one of the most valuable things to do for the business. In fact, there are many benefits of tax planning that can help save money and improve the business as a whole. Here are eight of the top benefits of tax planning for businesses:

When approaching your tax situation, whether for your business or personal, it is helpful to approach a professional who knows all the tricks of the trade. A qualified professional can assist you identify areas where there are potential tax saving opportunities so that saved money can be utilized to meet your business growth and other personal endeavors.

Season’s Greetings from Wendy Klein CPA Professional Corporation. We wish you and your family a wonderful holiday season, and a happy, healthy, and prosperous New Year 2023!

Wendy Klein CPA Professional Corporation wishes you and yours a happy, healthy, and prosperous holiday season.

Original Article Source Credits:  Investopedia , https://www.investopedia.com/

Article Written By:  Amy Fontinelle

Original Article Posted on:  May 12, 2021

Link to Original Article:  https://www.investopedia.com/financial-edge/0312/what-happens-when-you-cant-pay-your-taxes.aspx

Original Article Source Credits:   CNBC , https://www.cnbc.com/

Article Written By:  Greg Iacurci

Original Article Posted on:  MAY 25 2021

Link to Original Article:  https://www.cnbc.com/2021/05/25/bitcoin-crash-opens-door-to-a-tax-loophole-for-investors.html

The Biden administration wants to expand information reporting for financial institutions to better capture exchanges of cryptocurrency transactions.

Original Article Source Credits:  Entrepreneur , https://www.entrepreneur.com/

Article Written By:  Drew Giventer

Original Article Posted on:  January 27, 2021 

Link to Original Article:  https://www.entrepreneur.com/article/364011

Original Article Source Credits:   IRS , https://www.irs.gov/

Article Written By:  NA

Original Article Posted on:  March 17, 2021

Link to Original Article:  https://www.irs.gov/newsroom/tax-day-for-individuals-extended-to-may-17-treasury-irs-extend-filing-and-payment-deadline

Original Article Source Credits:  Forbes Advisor, https://www.forbes.com

Article Written By:  David Rodeck, John Schmidt

Original Article Posted on:  Feb 18, 2021

Link to Original Article: https://www.forbes.com/advisor/investing/what-are-cryptocurrency-taxes

Original Article Source Credits: Forbes, https://www.forbes.com

Article Written By:  Brian Thompson

Original Article Posted on:  Mar 4, 2021

Link to Original Article: https://www.forbes.com/sites/brianthompson1/2021/03/04/sba-substantially-increases-ppp-loan-amount-eligibility-for-new-schedule-c-borrowers/?sh=76f9a2365c23

Original Article Source Credits:   CPA Practice Advisor  , https://www.cpapracticeadvisor.com/

Article Written By:  NA

Original Article Posted on:  Jan 27th, 2021

Link to Original Article:  https://www.cpapracticeadvisor.com/tax-compliance/news/21207772/8-tax-tips-for-2021

Original Article Source Credits:   Forbes , https://www.forbes.com/

Article Written By:  Ashlea Ebeling

Original Article Posted on:  Feb 12, 2021

Link to Original Article:  https://www.forbes.com/sites/ashleaebeling/2021/02/12/10-tax-tips-for-filing-your-2020-tax-return-irs-urges-taxpayers-to-e-file-use-direct-deposit-for-quickest-refund/?sh=5923e8cb463d

I’m Wendy Klein, the proud owner of Wendy Klein CPA Professional Corporation. I look forward to sharing my story. I hope that you will enjoy getting to know me better.

Original Article Source Credits: IRS, https://www.irs.gov/

Article Written By: NA

Original Article Posted on: 27th January 2021

Link to Original Article: https://www.irs.gov/newsroom/important-reminders-before-filing-2020-tax-returns

Original Article Source Credits:   CNBC , https://www.cnbc.com/

Article Written By:  Darla Mercado

Original Article Posted on:  JAN 11 2021

Link to Original Article:  https://www.cnbc.com/2021/01/11/cryptocurrencys-value-plummets-heres-what-it-means-for-your-taxes.html

Original Article Source Credits:   IRS , https://www.irs.gov/

Article Written By:  NA

Original Article Posted on:  December 16, 2020

Link to Original Article:  https://www.irs.gov/newsroom/new-things-taxpayers-should-consider-as-they-get-ready-to-file-taxes-in-2021

The new covid relief bill clarified that borrowers who have loans forgiven may claim deductions for expenses even if expense were paid with loan amounts that were forgiven. This applies to all PPP loans.

Original Article Source Credits:   Forbes , https://www.forbes.com/

Article Written By:  Jared Hecht

Original Article Posted on:  Oct 27, 2020

Link to Original Article:  https://www.forbes.com/sites/jaredhecht/2020/10/27/why-you-shouldnt-worry-about-ppp-loan-forgiveness-yet/?sh=1704886b49db

Late last night the president did ultimately sign the covid relief bill, thereby creating the fix that was so highly anticipated.