Elizabeth Shwiff, Co-Founder along husband Howard Shwiff of SLP, Offers Insights on How Businesses Can Bulletproof Their Taxes
San Francisco, California, 1st December 2022, ZEXPRWIRE, In a recent interview, tax expert Elizabeth Schwiff offered insights on how businesses can adapt to the changes in the tax environment. She noted that the tax environment had undergone numerous changes due to the pandemic and the change in administration. As such, all business owners must stay on top of the new tax legislation and comply to avoid issues down the road. In her address, she noted several ways businesses can bulletproof their taxes.
Elizabeth Shwiff also noted that one of the most important things for business owners is keeping accurate and detailed records of their income and expenses. Maintaining accurate and detailed records is one of the most important things a business can do to protect itself from tax liabilities. This way, business owners can be sure they are only paying taxes on their net profit. These records can also be used to support deductions and credits, which can reduce the overall amount of taxes owed. Furthermore, having good records can help businesses resolve tax problems quickly and efficiently.
She also asked business owners to know the different taxes applicable to their businesses. There are many kinds of taxes that companies have to pay, and it can take time to keep track of all of them. However, being aware of the different types of taxes that apply to your business can help business owners avoid surprises come tax time. One type of tax that companies have to pay is income tax. This is a tax on the money that the business earns, and it is typically calculated based on the total income. Another type of tax that companies have to pay is property tax. This is a tax on the value of the business’s property, such as buildings or land. Finally, businesses also have to pay payroll taxes. These are taxes on the money companies pay their employees, including Social Security and Medicare taxes.
Elizabeth Shwiff also asked business owners to use software or tax professionals like accountants to help them stay organized and file their taxes correctly. Business owners can avoid costly mistakes and penalties by keeping accurate records throughout the year. Additionally, they will be able to take advantage of any tax breaks or deductions they may be eligible for. While it may require an initial investment of time and money, using software or an accountant to help with taxes can save businesses a significant amount of money in the long run.
She added that business owners should take advantage of tax deductions and credits available to businesses. Several tax deductions and credits are available to companies, and taking advantage of them can help bulletproof taxes. One standard deduction is the home office deduction, which allows business owners to deduct a portion of their rent or mortgage expenses if they use part of their home for business purposes. Another deduction can be used is the business vehicle deduction, which allows businesses to deduct the cost of maintaining and operating a vehicle used for business purposes.
Additionally, there are several tax credits that companies can take advantage of, such as the Research and Development Tax Credit, which helps businesses offset the cost of new product development. By taking advantage of these deductions and credits, companies can reduce their tax liability and ensure that they comply with the law. Mrs. Shwiff added that it was paramount for business owners to stay up-to-date on changes in tax law that could impact their business.
Elizabeth Shwiff is a tax and financial services expert. She founded Shwiff, Levy, and Polo with her husband, Howard Shwiff. Over the years, Mrs. Shwiff has used her skills to grow the company, from providing tax services only to including audit and CFO/Controller Services. Mrs. Shwiff believes in giving back to the community and is a philanthropist. She has been an active member of the Jewish Federation & Endowment Fund for many years. In this position, she has helped provide financial assistance to those in need, as well as support vital programs and services that make a difference in the lives of others. Based on her expertise in the field of taxation, her insights on the subject will go a long way in helping businesses understand and navigate the ever-changing tax environment.
ZEX PR Wire offers massive Press Release, News, Authored Articles, Editorial services, geared at generating massive exposure for your unique project, business, or concept.
ZEX PR WIRE is a premium press release distribution provides end-to- end solutions to produce, optimize and target content and then distribute and measure results. Combining the world's largest multi-channel, multi-cultural content distribution and optimization network with comprehensive workflow tools and platforms, ZEX PR WIRE serves tens of thousands of clients from offices in the Americas, Europe, Middle East, Africa and Asia-Pacific regions.
Disclaimer: ZEXPRWIRE is a newswire distribution network. Articles and other content published by ZEXPRWIRE are the legal responsibility of the author and ZEXPRWIRE accepts no liability for the content of such material. ZEXPRWIRE publishes content for informational purposes and makes no representations regarding, recommendation or invitation to engage in, any form of financial or investment activity, and does not endorse the content of any material published.
ZEX PR WIRE allows users to submit their press releases through our online platform. Once submitted, our team reviews the content for quality and relevance. Upon approval, the press release is distributed to our extensive network, including major news outlets, industry-specific publications, and online platforms.
You can streamline the distribution process while still benefiting from human oversight. This ensures that your press releases meet quality standards, increasing the likelihood of media coverage and enhancing your brand's visibility.
ZEX PR WIRE accepts a wide range of press releases, including product launches, company announcements, event promotions, new partnerships, industry insights, and more. However, we do not accept press releases containing offensive or illegal content. For more information on this please visit https://zexprwire.com/editorial-guidelines/
Pricing for using ZEX PR WIRE varies depending on the distribution package you choose. We offer different plans to suit various needs and budgets. For detailed pricing information, please visit https://pr.zexprwire.com/pricing
You can view the total number of site submissions, status for each submission (live/pending), hyperlinks for each live PR, details pertaining to your package and number of press releases remaining, and view count for each live PR through third-party tracker integrations. (You may change the content according to what we provide in analytics).
ZEX PR Wire operates between 10AM to 7PM IST. During these hours, press releases may be distributed immediately after editorial approval of the press release. Otherwise, it will be published the next day. Additionally, several publications might require more than one day to be completed.
It generally takes 24- 72 hrs to publish the press release and generate the report
Yes, ZEX PR WIRE allows you to schedule the distribution of your press release for a specific date and time. This feature enables you to plan your PR campaigns strategically and ensure that your news reaches the right audience at the right time.
If you have any further questions or need assistance, you can reach out to our customer support team through direct Whatsapp ,chat on the web or can write to us at [email protected]. We are available to help you with any queries or concerns you may have.