Reduce those income taxes

submitted by Martin H. Abo, CPA/ABV/CVA/CFF, Sharkey, Abo, Rodeffer & Associates, LLC

Two illustrative tax strategies that you can begin implementing now to reduce your taxes:

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Those overlooked tax deductions

submitted by Martin H. Abo, CPA/ABV/CVA/CFF, Abo and Company, LLC

It’s criminal to take business-tax deductions to which your company is not entitled, but it’s a darn shame to miss those that are lawful. The endless tampering by Congress with tax deductions, credits, capital gains taxes and income tax rates makes it more essential than ever to have tax planning reviewed by your professional tax advisor to determine whether such deductions are permitted or entirely new strategies need to be employed. Think about the following, for example.

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For year-end tax planning, start now

submitted by Martin H. Abo, CPA/ABV/CVA/CFF, Abo and Company, LLC

Year-end planning will be more challenging than normal this year. Unless Congress acts, a number of popular deductions and credits expired at the end of 2013 and won’t be available for 2014.

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Structuring the deal

submitted by Martin H. Abo, CPA/ABV/CVA/CFF, Abo and Company, LLC

Frequently, the seller of a desirable business wants to be paid 75% or more of the sale price up front. A buyer with little cash is forced to borrow from a bank, friends, family or the seller personally, to consummate the transaction.

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What happened to ‘Til death do us part’?

submitted by Martin H. Abo, CPA/ABV/CVA/CFF, Abo and Company, LLC

Obtaining a divorce does not necessarily mean that two people who find that they are incompatible have to undergo extended emotional and financial pain. Intelligent couples are increasingly taking a mature approach to their problem and to devising a fair resolution. The approach typically may include actions (among many others) such as:

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