Do you play a major role in a closely held corporation and sometimes spend money on corporate expenses personally? These costs may wind up being nondeductible both by an officer [...]
Executive compensation can become an issue for private companies and their owners, especially if an owner is getting divorced. Owning a business complicates the divorce process. When either spouse owns a private business interest, [...]
It's important to notify the IRS if you move and change your address. Under tax law regulations, a taxpayer's last known address is the one that appears on the tax return you [...]
The IRS just released its audit statistics for the 2020 fiscal year and fewer taxpayers had their returns examined as compared with prior years. But even though a small percentage [...]
The Employee Retention Tax Credit (ERTC) is a valuable tax break that was extended and modified by the American Rescue Plan Act (ARPA), enacted in March of 2021. Here’s a [...]
The COVID-19 pandemic has changed the dynamics of many households. In most cases, schools stopped or limited in-person instruction, causing many children to engage in at-home learning. Some families moved disabled [...]
Info from IRS.gov It’s important for taxpayers to understand how selling their home may affect their tax return. When filing their taxes, they may qualify to exclude all or part [...]
If you’re a parent with a college-bound child, you may be concerned about being able to fund future tuition and other higher education costs. You want to take maximum advantage [...]
This limited article addresses “piercing the corporate veil,” which refers to the limited circumstances under which the liability shield of a registered legal entity (an LLC or corporation) may be [...]
If you’re a business owner and you hire your children this summer, you can obtain tax breaks and other nontax benefits. The kids can gain on-the-job experience, spend time with [...]
Info irs.gov Taxpayers should review their federal withholding each year to make sure they're not having too little or too much tax withheld. Employees, retirees and self-employed individuals can use [...]
If your business was forced to close due to the pandemic, you may be itching to get back in the game. Or maybe you're looking to fulfill a lifelong dream of [...]
Preparing for a surge in demand for your business's products and services doesn't mean you have to go out on a financial limb. But some contingency planning may be in order. [...]
Email is ubiquitous in the American workplace and along with its growth comes the risk of lawsuits that can cost your company a bundle. In most cases an employer is held [...]
Do you own a vacation home that's classified as a rental property for tax purposes? Rental property owners may be tempted to use their rental properties for their personal "staycations" or [...]