Savings

When will Congress pass “extenders” legislation to revive expired tax breaks for 2015?

When will Congress pass “extenders” legislation to revive expired tax breaks for 2015? With Congress returning from its August recess, this is the question on tax-savvy Americans’ minds. Many valuable tax breaks aren’t permanent, so Congress has to pass legislation extending them to keep them in effect. Unfortunately, Congress often waits until the last minute to do so. For example, Congress didn’t pass 2014 extenders until December 2014, making the … Read more

Taxes with an IC-DISC Help Save for Exporters and others

Taxes with an IC-DISC Help Save for Exporters and others If your business exports American-made goods or performs architectural or engineering services for foreign construction projects. Then an interest-charge domestic international sales corporation (IC-DISC) can help slash your taxes. An IC-DISC is a “paper” corporation you set up to receive commissions on export sales. This is up to the greater of 50% of net income or 4% of gross receipts … Read more