Freedom Folio

Comprehensive Budgeting Tips for a Financially Secure Future

Introduction:- A Budgeting Tips is a financial blueprint that details anticipated revenues and expenditures for a designated time frame, usually spanning a month or a year. It is a tool that helps to manage individuals or families to manage their income and expenses. It’s a kind of road map for managing finance. It also helps […]

Expert Investment Advice: Unlocking Financial Succes

Introduction Investment advice is a suggested plan based on a study of various factors from investor-specific and external factors. Investment advice helps keep in view short-term and long-term financial planning. It includes factors like age, annual income and so on. Types of Investment Advice Popular Investment Advisors and Their Approaches Specific Investment Strategies Regional and […]

Protect Yourself from Costly Payroll Fraud

When you own and operate a business, you must exercise vigilant oversight, including watching over your payroll taxes. Here’s an example of why. Rodney Taylor entrusted his corporation’s accounting and bookkeeping to Robert Gard, CPA. Over several years, Mr. Gard embezzled between $1 million and $2 million, including payroll taxes. Despite Mr. Gard’s wrongdoing, the […]

Tax Reform Doubles Down on S Corporation Reasonable Compensation

From 2018 to 2025, the Tax Cuts and Jobs Act is offering a 20 percent deduction on pass-through business income, with specific eligibility criteria. This deduction impacts the choice of entity. For instance, should you operate as a sole proprietorship or an S corporation? The Importance of Reasonable Compensation When operating your business as an […]

BOI Reporting Deemed Unconstitutional for Some

On January 1, 2024, the Corporate Transparency Act (CTA) went into effect. The CTA requires most smaller corporations, most limited liability companies, and some other business entities to file a beneficial ownership information (BOI) report with the U.S. Department of the Treasury Financial Crimes Enforcement Network (FinCEN). The BOI report identifies and provides contact information […]

Financial Planning : Types and Importance

In today’s complex financial landscape, financial planning is essential for individuals and families that are looking to secure their future. Financial planning is also crucial to organizational success because it complements the business plan as a whole, confirming that set objectives are financially achievable.  This article covers the fundamentals of financial plans, its various types, […]

Turn Your Vacation—Even a Luxurious One—into Tax-Deductible Business Travel

Here’s an idea: how about transforming your next vacation into business travel? With careful planning, your transportation to any destination could be fully deductible. This includes airfare—even first-class—luxury hotel stays, and cruise expenses. If you can tie your travel to business purposes, you can enjoy substantial tax savings, depending on your tax bracket. Two Main […]

BOI Reporting Deemed Unconstitutional for Some

On January 1, 2024, the Corporate Transparency Act (CTA) went into effect. The CTA requires most smaller corporations, most limited liability companies, and some other business entities to file a beneficial ownership information (BOI) report with the U.S. Department of the Treasury Financial Crimes Enforcement Network (FinCEN). The BOI report identifies and provides contact information […]

Tax Reform Doubles Down on S Corporation Reasonable Compensation

From 2018 to 2025, the Tax Cuts and Jobs Act is offering a 20 percent deduction on pass-through business income, with specific eligibility criteria. This deduction impacts the choice of entity. For instance, should you operate as a sole proprietorship or an S corporation? The Importance of Reasonable Compensation When operating your business as an […]

Key Insights on the ICHRA for Small Businesses

If you are thinking about offering your employees the new ICHRA, take a moment to read the insights below. Class size rule. You face the class size rule only if you offer a traditional group health plan to one class of employees and an ICHRA to another. Minimum class size example. You cover four full-time […]