Tax Planning Archives - John F. Dennehy Jr., CPA, PC
John F. Dennehy Jr., CPA, PC

Category Archives for Tax Planning

Answering the Most Common Tax Questions for Businesses & Individuals

If you’re a business owner, you most likely have tax questions and tax concerns. Simply put, it makes dollars and sense to partner with an experienced tax professional for personalized guidance and advice.Whether it’s a question about your personal taxes, including earned income tax credit, child tax credit, or a question about your business taxes, […]

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Tax Planning vs Financial Planning: Foes or Friends

As a business owner, you work hard to earn a living and grow your business. However, if your tax planning and financial planning aren’t working together in tandem, you’re leaving money on the table. Fortunately, the team at John F. Dennehy CPA can help.We specialize in offering financial planning and tax planning services for small […]

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Should I File Taxes Quarterly or Yearly

As a business owner, it’s imperative you know whether you should pay your taxes quarterly or yearly. While individuals pay their federal income tax as they receive or earn income throughout the year, the process can look a little to a lot different for small businesses and individual contractors. This difference is due to the […]

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End of Year Tax Planning Checklist for Small Businesses: COVID-19 Edition

COVID-19 changed everything, including taxes. But it didn’t change the importance of having a robust end-of-year tax planning checklist. In fact, it’s more important than ever for you to have an end of year tax planning checklist. Considering all of the legislative changes and modifications, your end of the year tax planning checklist can be […]

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Prepare for Next Year’s Taxes

4 Simple Tips to Prepare for Next Year’s Taxes

Savvy business owners understand tax season is a year-round event; and as soon as the tax deadline passes, they’re able to shift their focus more toward preparing for next year’s taxes. Failure to prepare for next year’s taxes early often results in you paying Uncle Sam way more than you should.  However, when you proactively […]

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Quarterly Taxes

Do I Need to Pay Quarterly Taxes for My Business?

At John F. Dennehy CPA, one of the most common questions we receive from businesses is “Do I need to pay quarterly taxes?” Unfortunately, the answer to this question depends on the type of business you own as well as other factors.  Even though April 15th is the well-publicized tax deadline, certain types of business […]

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S-Corp vs C-Corp

S-Corp vs C-Corp: Which Business Structure Is Best?

Differences Between an S-Corp vs C-CorpThere are several important differences between these kinds of corporations. One of them has everything to do with taxation. C-corporations are widely regarded as tax-unfriendly entities, the primary complaint being “double taxation.” The business entity is taxed by the government with corporate income taxes, and the personal income of the […]

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5 Disadvantages of an S Corporation That Can Seem Like Advantages

If you’re at a point of deciding what kind of business structure to form for your new enterprise, it’s important to know your options. LLCs and S corps have a lot in common, and also a lot of differences. The tax differences between these two are especially important to understand. Any entrepreneur can appreciate the benefits […]

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Watch Out! Don’t Get Burned by the Hottest Tax Topics for 2017

It’s extremely hard to fathom tax season is almost here, and the hottest tax topics for 2017 are now in the conversation. Whether you operate a small business or you’re an individual, it’s always important to take advantage of the tax benefits available to you. It’s even more important for you to accurately pay Uncle […]

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Alternative Tax Planning Strategies for Small Businesses Used by the Pros

While some tax planning strategies for small businesses may be aimed at the small business itself, others can be aimed at the owner’s individual tax situation. Regardless of how complex or simple the strategy is, tax planning for small businesses should revolve around: Minimizing the amount of taxable income Managing when the taxes must be […]

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