Discover the key benefits and potential pitfalls of operating your business as a C corporation.
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Properly managing the tax treatment of intangible assets is vital for businesses to maximize tax benefits and ensure compliance with tax regulations.
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The average price of gas is down more than 20 cents per gallon from a year ago. That may affect the tax deductions for local transportation costs that your business can claim for 2024. Here’s what you can write off.
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Health Savings Accounts allow you and your employees to set aside money on a pre-tax basis to pay for qualified medical expenses. Here’s a look at what an HSA could mean for your business, as well as the inflation-adjusted amounts for 2024 and 2025.
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You’re probably familiar with the self-employment tax if you own a business. Here’s a refresher on how it works, how it will increase and whether there’s anything you can do to reduce it.
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For many key employees, the use of a company car is a cherished perk. But before you hand over the keys, make sure you understand the federal tax rules.
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Ever heard of a cost segregation study? It’s a strategy that can yield tax benefits, but it’s not the right move for every business. Here’s how it can help accelerate depreciation deductions on the building that houses your enterprise.
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You want to be able to deduct business expenses on your tax return. But in order to be deductible, expenses must be ordinary, necessary and reasonable. Here are the rules.
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The leaves are beginning to turn in some areas so it’s time for businesses to start thinking about year-end tax strategies. It’s also a good time to think about the fourth quarter 2023 tax filing deadlines.
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Many spouses operate small businesses together. Here’s a look at some of the tax issues they may face.
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Inflation has some beneficial side effects. One is that the amount of depreciation tax breaks your business can claim has increased for 2023. Here are the rules.
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Divorce can be financially complicated, especially if one or both of the spouses owns a business.
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If your corporation defaults on a loan that you guarantee, there may be tax consequences. You don’t want to be caught unaware.
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Next year, a new provision kicks in that may allow businesses to help employees in financial emergencies through their retirement plans. Here are the details.
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Some businesses receive large amounts of cash. Depending on the amounts, they may be required to report the transactions to the IRS.
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You can operate your small business in several ways. For example, your entity can be a sole proprietorship, an S corporation or a partnership. Here are the advantages of operating as a limited liability company (LLC).
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There may be a way to reduce a large tax bill if you own appreciated land that you want to subdivide and develop for sale. Here’s a three-step strategy.
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When spending money personally on behalf of your closely held corporation, you want to ensure the expenses are tax deductible by either you or the business. Here are the key considerations.
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Converting an unincorporated business into an S corporation may help you cut your self-employment tax bill. Here’s how.
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