"The hardest thing in the world to understand is income taxes" -Albert Einstein | 281-210-2450 | INFO@CORREAPEARSONANDASSOCIATES.COM

The Urban Legend Of Tax Deductions



The Urban Legend Of Tax Deductions

The Urban Legend Of Tax Deductions With the pandemic, many business owners are working from home more than ever before. You may have heard the urban legend of the ‘Home Office Deduction’. A lot...
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EIDL Loan Recipients: Pay Less Now, or A Lot More Later

Are You Going to Pay More Interest Than You Thought? When the pandemic hit America, millions of business owners were impacted. Government shutdowns escalated an already dire situation causing some...
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Refinancing to Free Up Cash Flow

How Refinancing Your Home Could Save You Thousands There’s a lot of talk in the headlines about interest rates being lower than they have been in many years - sending droves of homeowners to...
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Trump Math

How in the world can someone make just shy of $15Million/year in income and pay only $750 in tax? With legal tax avoidance and proper planning. We all heard of the uproar when Trump's 2017 tax...
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Why You’re Not Rich Yet and How to Get There

Hint... It's not your fault. You can search the web for the 'silver bullet', that get-rich-quick trick that's just waiting to be discovered. That lottery ticket that's just waiting to be cashed......
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How Recent Tax Changes are Making Health Care More Affordable

With the passage of the American Rescue Plan Act of 2021 (ARPA), Congress has temporarily abolished the health insurance premium tax credit “subsidy cliff.”  For 2020 and 2021,...
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Tax Hikes May Be Released TODAY In New Whitehouse Release

President Biden is expected to announce a $6 Trillion dollar budget today and if passed, it will potentially include the word “retroactive” as it relates to tax hikes.  This is A BIG...
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When it Pays to Lose, Net Operating Loss Carrybacks

For many years, thanks to the net operating loss (NOL) provisions, the tax code gave you quick cash in your pocket if you had an overall net loss in a tax year. Unfortunately, starting in 2018, the...
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Billions More in Tax Breaks for Americans with Children

For tax year 2021, Congress is giving away billions of dollars in additional tax credits on your Form 1040 individual tax return. These temporarily expanded tax credits include the child tax...
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S Corp Secrets

Did you know that S Corporations (S Corps) could save you a TON in taxes? Aside from the asset protection benefits, most often than not you can usually cut your effective tax rate in half. And, if...
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