Does your business receive large amounts of cash or cash equivalents? If so, you're generally required to report these transactions to the IRS — and not just on your tax return. [...]
Merger and acquisition (M&A) activity is widely expected to pick up this year, after a lull in 2022. Amid economic uncertainty, earnouts are likely to play a big role in [...]
If you’re claiming deductions for business meals or auto expenses, expect the IRS to closely review them. In some cases, taxpayers have incomplete documentation or try to create records [...]
Business succession and exit planning should ideally be done over a long period of time (unless illness or another emergency makes it necessary to address them in the short term). [...]
Do you provide car rides through a mobile app, rent out your spare room using an online platform or repair computers for local businesses on demand? If so, you may [...]
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 [...]
Most lenders require the owner of a small business to personally guarantee loans made to the company in question. This pledge indicates the owner's commitment and helps ensure that the [...]
Financial problems rarely happen overnight. Early detection increases the chances of a successful turnaround. Here are four red flags to watch out for: Late financial statements. When financials are delayed, [...]
As part of your exit strategy or your estate plan, let's say your team of advisors has helped you determine that selling your business will help you best achieve your [...]
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 [...]
In a divorce, when either or both spouses own a closely held business, the dissolution of the marriage becomes more complex. There are several questions to consider: Should the couple [...]
Seniors who must take withdrawals from their IRAs may be able to benefit from a special tax provision for qualified charitable distributions (QCDs). Briefly stated, this provision allows people in [...]
The Employee Retention Credit (ERC) was a valuable tax credit that helped employers that kept workers on staff during the height of the COVID-19 pandemic. While the credit is [...]