The Inflation Reduction Act expands the R&D payroll tax credit for eligible small businesses for tax years beginn...
Many small businesses are in need of new employees and may get creative in their hiring. The Work Opportunity Tax Cre...
Separating the ownership of a business’s real estate from the business isn’t always advisable. But it mig...
A recent survey of audit partners found that 40% were uncertain about the outlook for their primary industries. In li...
Before you know it, the end of 2022 will be near. Here are some year-end moves to consider that may help your small b...
The new Inflation Reduction Act provides small businesses with an incentive to increase their investments in research...
If you run a one-person small business, you might be able to build a bigger retirement nest egg with a solo 401(k) pl...
Buying or selling a business may be the most critical transaction you ever make. If your business is considering merg...
A limited liability company can give you corporate-like protection from creditors while providing the benefits of tax...
The “dividends-received deduction” may take some of the bite out of a C corporation’s tax bill. Her...
Form 1095-C is filed with the IRS and provided to employees of “applicable large employers” who are full-...
How do you handle the costs involved in developing your business website for tax purposes? Here are the general rules...
If your business operates as a C corporation, you may save tax by becoming an S corporation. Here’s a rundown o...
If your business plans to purchase bonus depreciation qualifying property, take action soon to realize a valuable tax...
You don’t have to be a large business to benefit from tax breaks. Here are 3 ways that eligible small businesse...
Interested in a “like-kind” exchange of real property? Here are the basic rules.
Because of the soaring price of gasoline, the IRS has increased the standard mileage rate for qualified business driv...
Start the year off right with reliable financial forecasts. Here are five questions to guide you through the process....
The price of gas is up about $1 a gallon from a year ago. How does this affect the amount your business can deduct fo...
Businesses face a variety of tax-related deadlines in the first quarter of 2022. Here are some of them.
Providing a company car to executives at your business is a prized perk. Here are the basic tax rules involved in thi...
Ever wonder how much of a tax break you’d get if you bought a private plane for your business? Here are the bas...
There may be ways your small business can save on 2021 taxes. But you must act before Dec. 31.
The sun has set on the valuable Employee Retention Credit. Here’s what happened.
Is your business giving holiday gifts to employees or customers this year? Or are you throwing a holiday party? Here ...
There are many factors to consider when choosing a business entity. Here are just a few.
Congress has passed the Infrastructure Investment and Jobs Act. Find out what tax-related provisions have been built ...
Allocating year-end tax planning time now can prove beneficial come tax filing time next year.
Looking for a flexible, tax-advantaged option for providing health care coverage at your business? Consider a Health ...
When it comes to business planning, time plays a large part in long-term success.
Business owners and their employees don’t have to pay Social Security tax on all their wages. Amounts above a c...
Reducing employee risk plays a vital part in planning your business's future success and growth for the company....
The fate of the Build Back Better Act and the Bipartisan Infrastructure Bill remains uncertain as Congress continues ...
Have you bought or sold business assets in an M&A deal in 2021 or are in the process of a transaction? If so, you...
Claiming depreciation deductions for a passenger automobile can involve complex calculations. Here are the basic rule...
Have you been affected by one of the many natural disasters that have occurred this year? Tax relief may be available...
If your business is victimized by theft, embezzlement or internal fraud, you may be able to claim a tax deduction for...
Creating incentives for key employees to support your business long-term can be a great benefit to planning the futur...
If you own or operate a business, you may not know that the IRS has “Audit Techniques Guides” for certain...
Divorce may have tax implications for the spouses involved, especially if one or both of them owns a business. Here a...
If your corporation defaults on a loan that you guarantee, you don’t want to be blindsided by the tax implicati...
Certain types of businesses receive large payments of cash. They may be required to report the transactions to the IR...
There are several options for operating your small business. For example, a sole proprietorship, an S corporation or ...
If you spend money personally on behalf of your closely held corporation, you want to make sure either you or the bus...
If you received a PPP loan, important forgiveness deadlines are approaching. Are you ready?
Business applications have increased over the past year, according to the U.S. Census Bureau. If you’re launchi...
With a successful business comes the constant threat of competitors. Let's evaluate what your company's assets are an...
The IRS will impose the “Trust Fund Recovery Penalty” on certain business owners and managers personally ...
Owners of “pass-through” businesses can claim a valuable tax deduction that was created by a 2017 law. He...
If your business hasn’t already claimed the Employee Retention Tax Credit, you should check out if you’re...
On the road again for business? Here’s a rundown of costs you can deduct for business travel.
Although you might want to enjoy the lazy days of summer, employers and businesses should be careful not to miss thes...
"Recordkeeping DOs and DON’Ts for Business Meal and Vehicle Expenses" | Keeping meticulous business record...
Are you a business owner with teenage or college-age children who constantly need cash? You may want to hire them to ...
You may know where you want your money to go when you die, but let's take a look at how to plan and strategize your w...
Businesses that provide Health Savings Accounts to employees know they have a variety of benefits. Here are a few of ...
When setting your business up for success, it's important to be able to identify deals that may hurt your company's f...
Employee or independent contractor? That’s the question businesses ask when they bring on certain workers. Here...
If you’re trying to keep straight all of the tax proposals the Biden administration has recently announced, her...
Some employers offer educational assistance plans as a recruitment and retention tool. Here are the rules to help ens...
There’s a great deal of interest in alternative energy technologies today. If your business invests in certain ...
Thinking about hiring your teenager to work in your business? There can be significant tax benefits.
Eligible businesses affected by the COVID-19 pandemic now have until May 31 to apply for a PPP loan. Here’s the...
The Employee Retention Credit (ERC), which was created to encourage employers to keep their workforces intact during ...
On March 11, 2021, President Biden signed into law the American Rescue Plan Act (ARPA). The...
Business owners may be able to save tax with home office deductions. If you’re working from home (like lots of ...
Buying or selling a business may be the largest transaction you’ll ever make. Pay attention to taxes. After a d...
How much do your employees have to earn in 2021 before they can stop paying Social Security tax? How much can they co...
The price of gas is down from a year ago. How does this affect the amount your business can deduct for business drivi...
A filing requirement is coming up if your business pays independent contractors or makes other payments.
Businesses that have been hit hard by the COVID-19 may be able to obtain help with PPP loans. Here are the basic rule...
The Employee Retention Tax Credit rewards employers that can afford to keep workers on the payroll during the COVID-1...
Some taxpayers may be able to achieve significant savings with the QBI deduction by taking certain steps at year end....
Before Dec. 31, your business should buy any needed business assets and place them in service. That way, you can take...
Do you operate your business as an S-Corp? Be aware that several elections are available to you and your shareholders...
Entrepreneurs: Don’t ignore saving for retirement. Here are the basics of tax-favored plans to help build your ...
We asked our tax professionals for a few suggestions on how to get organized and prepare for 2021. Here they are...
The passive activity loss rules can be complex and trip up some taxpayers. Here are the rules.
The tax rules for treating computer software costs can be complex. Here’s a basic explanation.
Your business likely has a website. How do you treat the costs involved in developing your site for tax purposes? Her...
With fall's arrival, it’s time for businesses to start thinking about fourth quarter tax deadlines.
Even if your private foundation has good intentions, it may not be enough. You need a conflict-of-interest policy to ...
The IRS has issued guidance to implement the deferral of the employee share of SS tax, but employers still have quest...
Many businesses have undergone strategic shifts during the pandemic. Here’s how to determine whether that chang...
Depreciating assets involves a complex area of tax law; here’s a rundown:
If your business received a PPP Loan, you should be aware of the potential tax implications.
Business owners often consider “insiders” as viable successors. Can this be a fatal flaw in planning...
Today’s markets are unpredictable, but changing conditions can open new business opportunities.
If your business receives large cash or cash equivalent payments, you may have to report them to the IRS.
The SBA just released a new round of FAQs targeted at providing guidance for PPP loan forgiveness. Find out more.
Since you can’t escape the impact of cash flow, you might as well take it head on, right?
How the pandemic could add a new layer of complexity to the new-and-improved auditor’s report.
In some cases, partners may be taxed on more partnership income than was distributed to them from their partnerships....
Is your business running like a fine-tuned machine? Dashboard reports can help you quickly recognize problems and eme...
Bartering is popular during times of economic downturns, which many businesses are suffering now due to COVID-19...
Beware: Your supply and service contracts may contain hidden surprises known as “embedded” leases.
A tax form that used to be filed back in the 1980's is coming back for 2020. Here’s what businesses need to kno...
The “Trust Fund Recovery Penalty” is among the more dangerous tax penalties facing business owners and ma...
The extended federal income tax deadline is coming up fast. As you know, the IRS postponed until July 15 the payment ...
One of the most important elements of a successful business transition is transferable value. No matter what an owner...
Global economic disruption uniquely affects each business.
CARES Act - Funding and Employment Retention Provisions
CARES Act - Tax Provisions for Businesses
OK – the subject line of this article is a naked attempt to attract your attention but if you read on you ...
The criteria and precedent used to determine sales tax liability has changed. Will this change affect your business' ...
A brief summary of each state's economic nexus thresholds
The new Qualified Business Income Deduction is one of the more complex proposed changes in the Tax Cuts and Jobs Act,...
Many REITs are eligible to implement a tax strategy known as cost segregation. Unfortunately, misinformation has left...
The deductibility of certain expenses is obvious, while in other cases it’s unclear. And the TCJA affects many ...
Which parts of the recent tax reform have the greatest impact on not-for-profit organizations?
Your not-for-profit probably already ensures that donors receive a receipt with information about claiming a charitab...
While it remains the case that the lower corporate tax rates for C corporations increase cash flows and therefore pot...
A summary of the most widely applicable points of the tax reform passed in December 2017.
Part 3 of 3: A summary of the most widely applicable points of the tax reform passed in December 2017.
The Impact of New Tax Law on Valuations
WEC is pleased to announce the promotion of Steven E. Sandoval from Supervisor to Individual Tax and Small Business C...
If a tax-exempt organization engages in a business that is unrelated to its primary purpose, the general rule is that...
Few, if any, of us enjoy dealing with the IRS. Often polled as America’s most hated federal agency, the agency&...
Many tax-exempt organizations publish magazines or other periodicals that contain editorial material related to the o...
Many tax-exempt organizations allow for-profit entities to use the organization's name or logo to market goods and se...
The characterization of expenditures relating to fixed assets (tangible property) has been a challenge since the ince...
After weeks, indeed months of proposals and counter-proposals, seemingly endless negotiations and down-to-the-wire dr...
Every taxpayer wants to reduce his/her tax liability, and if you are involved in qualified research activities, the R...
Dramatic tax increases scheduled to go into effect in 2013 make 2012 tax planning imperative. The following taxes may...
The Returning Heroes and Wounded Warriors Work Opportunity Tax Credit is an extension of the Work Credit available fo...
A cost segregation study can help you maximize tax savings and increase cash fl ows onyour future, current...
We all know how important it is to understand how tax laws affect the day to day operations of a construction busines...
Construction companies face an imposingly complex choice when it comes to their accounting methods. Because no two pr...