The Planner

The Planner is CORE Group's blog and a way to help others interested current tax planning and service news.

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Core Group

CORE helps entrepreneurs in business services, growth acceleration & unlocking profit while retaining money. Accounting - Payroll - Bookkeeping - Taxes - Profit First #growprofitably

Taxable vs. Non-Taxable Income

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Core Group

Every American citizen is required to pay tax on all income they earn. This rule isn’t limited to your monthly paycheck. It also doesn’t matter whether you received your income in cash, check, goods, or services. As long as your earnings qualify as taxable, then you have to pay your dues in the year you receive your income.

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How Long Should You Keep Your Tax Records

How Long Should You Keep Your Tax Records?

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Core Group

If you're like most Americans, the day that you send off your tax returns is a major relief. But dropping off your tax return isn't the end of the story, because an audit is always possible. If that's the case, you'll need good documentation to prove your return's accuracy.

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Understanding Amortization and Depreciation

Understanding Amortization and Depreciation

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Core Group

Managing your assets in terms of taxes can seem intimidating at first glance. A simple mistake can cause significant damage to your business. However, understanding concepts like depreciation and amortization can help avoid potential issues in the future. This guide explains the various aspects of amortization and depreciation to help navigate your assets. 

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The Vital Pros and Cons of an S Corporation

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Core Group

An S corporation is a type of corporation that meets the specified requirements of the Internal Revenue Code (IRS). An S corporation passes through most of its business income and loss to its shareholders like a sole proprietor. The owners are not liable to pay double tax, at the corporate level and then on the individual shareholder level. 

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