Mind Your Business WW 2016_9

Your business can result in costly complex tax and legal issues Are you using form contracts that cost you more than they save you? Are you throwing away tax savings? I bet you are. I can be your one stop source of tax, legal and estate advice. I can help you increase revenues with win-win contracts and save you money on taxes.

As corporate counsel for a national software company, I negotiated win-win contracts with customers like Chase and Bank of America that today produce roughly $5 million in residual revenues each year.

My Advice: Avoid using a form contract for an important transaction. So if you have an important contract coming up you know who to bring it to, right? E-mail Wis

Your business profits are an ideal source of business financing. But the IRS may be taking over 40% of that in taxes: up to 39.6% in regular taxes and 15.3% in self-employment taxes. What do you do? Call Wis.

Do it yourself tax preparation is a sure way to end up paying higher taxes. In my seminars, I show parents how to save $2,000 or more in taxes by hiring one of their children. But watch out ! A recent Tax Court decision took away such a deduction where the parents couldn’t proof that the bonuses were typical of similar businesses and jobs. This week, I am working with a corporate client to find jobs for his son that would justify his salary.

For professional tax advice on these or other questions. E-mail to Wis

About Wis Laughlin

I help clients with tax preparation and IRS representation, estate planning, and complex contracts, including LLC's. As a former IRS tax attorney in their National Office. Law.com picked Wis in 2017 and several prior years as one of the Top Tax and Estate Lawyers in Tennessee. I am your advocate, not your accountant. I don't tell you what you can't do. I show you how to do it.
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