Tax Leverage

In this podcast episode, Tax attorney Jasmine DiLucci discusses identifying gray areas in tax law. She emphasizes the importance of thorough research and clarifies common misconceptions, offering insights for confidently navigating complex tax issues. Welcome to Tax Leverage, where we talk about the tax laws that you can leverage in business. The information on this podcast is for educational purposes only and does not constitute professional legal or tax advice..

Business owners make better business decisions and minimize tax when they understand the financial implications of their business. In this episode, Jasmine talks about the biggest mistake she sees for business owners related to their financials and how to solve the issue Welcome to Tax Leverage, where we talk about the tax laws that you can leverage in business. The information on this podcast is for educational purposes only and does not constitute professional legal or tax advice.

Tax Planning is crucial. In this episode, Jasmine DiLucci talks about her top three favorite tax planning opportunities right now. Welcome to Tax Leverage, where we talk about the tax laws that you can leverage in business. The information on this podcast is for educational purposes only and does not constitute professional legal or tax advice.

Lynnsee Starr, a Corporate and Real Estate Attorney, emphasizes the crucial role of company operating agreements in protecting legal rights. She highlights the common mistake business owners make by neglecting these agreements, risking limited liability. Starr discusses practical scenarios where such agreements are essential, particularly in partnerships and real estate transactions. She also explores creative legal provisions that help safeguard member interests and maintain trust, covering everything from decision-making processes to buy-sell provisions.

When you start a business, you choose a legal entity and tax entity. Understanding the difference can allow you to maximize the benefits of both. Today, Jasmine DiLucci, JD, CPA, EA and Lynnsee Starr, JD, explain the difference between the two and review when to choose which type of tax entity. Welcome to Tax Leverage, where we talk about the tax laws that you can leverage in business. The information on this podcast is for educational purposes only and does not constitute professional legal or tax advice. Chapters (00:00:00) - Introduction (00:00:50) - Legal Entity v. Tax Entity (00:05:19) - Tax Entity Choices of an LLC (00:06:25) - Pros and Cons of Tax Entity Types

Employee retention is crucial and can improve when employer's profit share, but there are costly mistakes to avoid both for legal and tax purposes. Jasmine DiLucci, JD, CPA, EA, and Lynnsee Starr, JD, talk about when it makes sense to profit share with employees and how you can mitigate potential negative consequences. Welcome to Tax Leverage, where we talk about the tax laws that you can leverage in business. The information on this podcast is for educational purposes only and does not constitute professional legal or tax advice. Chapters (00:00:00) - Introduction (00:00:10) - Why Employers Profit Share (00:02:25) - Two Most Common Options for Profit Sharing (00:03:20) - The Biggest Mistake to Avoid When Profit Sharing (00:08:59) - How to Mitigate the Risk of Adding an Employee to Ownership (00:11:43) - Tax Impact of Adding Employees to Ownership

Delaware entities are known as a tax haven. Today, Jasmine DiLucci, JD, CPA, EA, talks about how forming your entity in Delaware may likely result in spending extra money rather than tax savings. Welcome to Tax Leverage, where we talk about the tax laws that you can leverage in business. The information on this podcast is for educational purposes only and does not constitute professional legal or tax advice. Chapters (00:00:00) – Introduction (00:00:46) – Delaware’s “Tax Loophole” (00:04:47) – Two Reasons to Form a Delaware Entity

Jasmine DiLucci, a legal and tax expert with a JD, CPA, and EA credentials, delves into the potential pitfalls of S-Corporations. She reveals why many recommend S-Corps for tax savings but warns of the devastating tax mistakes that can arise. Jasmine discusses her personal strategies for avoiding S-Corporation basis issues and stresses that not all businesses should jump on the S-Corp bandwagon. This insightful conversation unpacks the hidden dangers of choosing an S-Corp and highlights the importance of understanding tax implications.

Tax Leverage: Income and Estate Tax Upon Death Welcome to Tax Leverage, where we talk about the tax laws that you can leverage in business. The information on this podcast is for educational purposes only and does not constitute professional legal or tax advice.