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Business tax credit you may not be aware of

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  • Business tax credit you may not be aware of

    My partner in the CPA firm, James Koinis, and I were hashing over issues that doctors deal with and he mentioned that new practices may not be aware of the tax credit for retirement plan startup costs. It maxes out at $1,500, but that can be a lot for a new business. I think he's right, so I just blogged about it. This is a credit that is easy to overlook (even for a CPA), so be double-check your returns if you think you may have qualified. Let me know if you have any questions.
    My passion is protecting clients and others from predatory and ignorant advisors 270-247-6087 for CPA clients (we are Flat Fee for both CPA & Fee-Only Financial Planning)
    Johanna Fox, CPA, CFP is affiliated with Wrenne Financial for financial planning clients