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These Were the 5 Biggest Tax Scams That Snagged Small Business Owners

The Motley Fool

Image source: The Motley Fool/Upsplash It's never too early for small business owners to start thinking about taxes. Small business tax season goes all year round -- with quarterly estimated tax payments, payroll taxes, and other tax obligations specific to your state or industry.

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5 Ways to Lower Your New York State Tax Bill

The Motley Fool

Image source: Getty Images Ah, New York, the Empire State: home to the Big Apple, cascading waterfalls, and, not so proudly, some of the highest taxes in the nation. Whether you're a city slicker dodging taxis or a country dweller enjoying the serene landscapes, one thing unites all New Yorkers: the quest to lower that pesky tax bill.

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Here Are 8 Ways the Richest Americans Avoid Paying Taxes

The Motley Fool

Image source: Getty Images Have you ever heard that multi-billionaire Warren Buffett pays a lower federal income tax rate than his secretary? Many ultra-wealthy American households pay surprisingly low effective federal income tax rates, and in some cases, no taxes at all. No tax breaks are designed to only benefit billionaires.

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The 3 Biggest Tax Breaks I've Ever Gotten

The Motley Fool

Image source: Getty Images The goal when filling out your federal income tax return should be to pay what you owe -- but not a penny more. You can make sure this happens by taking advantage of the numerous tax deductions, credits, and other incentives in the lengthy U.S. tax code to make sure your bill is as low as possible.

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Don't Miss Out on These EV Tax Credits

The Motley Fool

Image source: Getty Images Electric vehicle (EV) sales have slowed in 2024, and some people are wondering if EV tax credits are actually a good deal. After all, the list of vehicles that qualify for the full $7,500 new EV tax credit has shrunk in 2024. But there is another EV tax credit that offers excellent value.

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3 Tips to Maximize Your EV Tax Credits

The Motley Fool

Many new and used EVs (and some plug-in hybrids) qualify for EV tax credits that can give you a significant discount at the dealership. Let's look at a few ways to maximize your EV tax credits and get a better price on buying a car in 2024. But many new EVs don't qualify for the full $7,500 EV tax credit.

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Here's a Ridiculously Easy Way to Get Ready to File Taxes

The Motley Fool

Image source: Getty Images Whether you're anxious to get your 2023 tax returns filed or have an annual tradition of dragging your feet, you can make the entire process easier. By breaking up the labor-intensive part of gathering documents, you'll be set and ready to go when tax time rolls around. That's "Week 1." Income of dependents.

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