Ubiks Consulting

01/26/2024

More Tax Credits from the IRS

Self Employed Tax Credit (SETC) - Description

01/18/2024

Tax Credit for Food and Beverage Businesses

🌟 Unlock Incredible Savings with the Tip Credit - Act Now! 🌟 - Description

01/06/2024

New Tax AI coming soon to help individuals and businesses save

New Tax AI Agent - Description

01/06/2024

Urgent - New Gov Requirement - Beneficial Ownership Information - Description

12/09/2022

IRS Form 2553, also known as the Election by a Small Business Corporation, allows a small business corporation to elect to be treated as a "S corporation" for tax purposes. This election can provide several benefits for small business owners, including:

Pass-through taxation: As an S corporation, the business's income and losses are passed through to the individual shareholders, who are then responsible for reporting and paying taxes on their share of the business's income on their personal tax returns. This means that the business itself does not have to pay corporate income taxes, which can save the business money on taxes.

Flexible distribution of income: S corporations can distribute income and losses to shareholders in any proportion they choose, regardless of the shareholders' ownership percentages. This allows the shareholders to control their own tax liability and can be useful for managing the business's overall tax burden.

Simplified tax reporting: S corporations are required to file only one tax return per year, which can simplify the tax reporting process for small businesses. This can save time and reduce the risk of errors or omissions, which could result in penalties or other problems with the IRS.

Potential savings on self-employment taxes: If you are a shareholder in an S corporation, you may be able to save on self-employment taxes by electing to be treated as an employee of the corporation, rather than a self-employed individual. This can provide significant savings on taxes for small business owners.

Overall, electing to be treated as an S corporation through IRS Form 2553 can provide many benefits for small business owners, including pass-through taxation, flexible distribution of income, simplified tax reporting, and potential savings on self-employment taxes.

10/14/2022

The little known secret for maximum real estate depreciation.

https://www.ubiks.io/post/cost-segregation-studies

09/12/2022

While this article highlights the benefits of consulting services, it’s hard to truly understand the financial impact without some context.

Last week we reclaimed nearly $900,000 in tax rebates for a medium sized healthcare business and found an additional ~$500K in tax savings for them as part of our complimentary consulting services when we prepare a client’s ERTC filing.

But wait, there’s more! If $1.4 million weren’t enough, based on our assessment, we were also able to help them increase revenue by another 15% without adding additional expenses.

The ROI on consulting services is invaluable and, when done correctly, the benefits go in perpetuity.

www.ubiks.io

https://www.ubiks.io/post/continuously-invest-in-your-business

09/06/2022

The Benefits of Hiring a Business Consultant: 6 Reasons You Shouldn't Ignore

1. You Will Save Time and Effort
2. You Will Boost Your Company’s Reputation
3. You Will Get Expert Advice
4. You’ll Be Able to Grow Quicker
5. You’ll Learn Key Lessons About Your Company

Full article here:

Business consultants are not a dime a dozen. You won’t find one easily, and you probably won’t find one that is the perfect fit for your company. It takes some time to find the right person for the job. Asking someone to become your business consultant may seem like an unnecessary expense, but i...