With 2024 right around the corner, your shareholders might be thinking about year-end bonuses or distributions. Before doing so, it's important to review the potential tax implications and requirements. Distributions vs. [...]
Let’s say you own highly appreciated land that’s now ripe for development. If you subdivide it, develop the resulting parcels, and sell them off for a hefty profit, it [...]
Termination can be painful, whether it's for cause or part of a business slump that you can't avoid. Employees who are fired or laid off often have negative feelings about [...]
Under tax law, businesses can generally deduct advertising and marketing expenses that help keep existing customers and bring in new ones. This valuable tax deduction can help businesses cut [...]
The federal income tax treatment of business-related meal and entertainment expenses has been a moving target the last few years. If you're confused about what rules currently apply, you're not [...]
Every tax season, business owners must familiarize themselves with tax law changes that went into effect for that tax year. Fortunately, businesses don't have to contend with sweeping changes for [...]
Is it possible to have too much of a good thing? The IRS thinks so, at least in the context of compensation paid to business owners. If an owner's compensation is [...]
Here are some of the key tax-related deadlines affecting businesses and other employers during the fourth quarter of 2022. Keep in mind that this list isn’t all-inclusive, so there may [...]
Here are some of the key tax-related deadlines affecting businesses and other employers during the third quarter of 2022. Keep in mind that this list isn’t all-inclusive, so there may [...]
Did you know that tax return errors can delay refunds and increase audit risk? Before your tax return preparation appointment, make sure you've gathered all 2021 tax documents received, such [...]
The credit for increasing research activities, often referred to as the research and development (R&D) credit, is a valuable tax break available to eligible businesses. Claiming the credit involves complex [...]
Since the qualified business income (QBI) deduction first become available in 2018, things have changed dramatically, mainly due to the various effects of the COVID-19 pandemic. Possible tax rate increases, and [...]
The limited supply of new and used vehicles, along with other economic factors, has driven up prices in the auto market. The average price of new cars increased by 13% for the year [...]
Do you want to sell commercial or investment real estate that has appreciated significantly? One way to defer a tax bill on the gain is with a Section 1031 “like-kind” [...]
The use of a company vehicle is a valuable fringe benefit for owners and employees of small businesses. This perk results in tax deductions for the employer as well as [...]