How much can your employees contribute to 401(k) plans this year? How much will your business be able to deduct for business meals, driving expenses and equipment in 2022? Here are the answers to these and other questions about tax inflation adjusted amounts and other changes affecting businesses.
Read MoreEver wonder how much of a tax break you’d get if you bought a private plane for your business? Here are the basic rules.
Read MoreAllocating year-end tax planning time now can prove beneficial come tax filing time next year.
Read MoreThere are many factors to consider when choosing a business entity. Here are just a few.
Read MoreLooking for a flexible, tax-advantaged option for providing health care coverage at your business? Consider a Health Savings Account. Employers and employees can benefit.
Read MoreBusiness owners and their employees don’t have to pay Social Security tax on all their wages. Amounts above a certain threshold aren’t subject to Social Security tax. The “wage base” for 2022 was recently announced.
Read MoreYour business may gain substantial tax benefits with a cost segregation study, but they’re not right for everyone. Here’s how this strategy can help accelerate depreciation tax deductions on the building that houses your operation.
Read MoreWith fall foliage here in many areas, it’s time for businesses to start thinking about year-end tax strategies. It’s also time to think about the fourth quarter 2021 tax filing deadlines.
Read MoreThe IRS has announced the special “per diem” rates that became effective Oct. 1, 2021. Here are the basics of these rates.
Read MoreWith fall foliage here in many areas, it’s time for businesses to start thinking about year-end tax strategies. It’s also time to think about the fourth quarter 2021 tax filing deadlines.
Read MoreHave you bought or sold business assets in an M&A deal in 2021 or are in the process of a transaction? If so, you must report the details to the IRS. The tax agency may then compare what both parties report to ensure they match.
Read MoreIf your business is victimized by theft, embezzlement or internal fraud, you may be able to claim a tax deduction for the loss. But there are requirements that must be followed as one U.S. Tax Court decision illustrates.
Read MoreIf you own or operate a business, you may not know that the IRS has “Audit Techniques Guides” for certain industries and tax issues. IRS examiners use them to prepare for audits and you can read them too. Here’s how.
Read MoreDivorce may have tax implications for the spouses involved, especially if one or both of them owns a business. Here are some of the issues involved.
Read MoreIf your corporation defaults on a loan that you guarantee, you don’t want to be blindsided by the tax implications.
Read MoreCertain types of businesses receive large payments of cash. They may be required to report the transactions to the IRS. Here are the rules.
Read MoreIf you spend money personally on behalf of your closely held corporation, you want to make sure either you or the business can deduct the expense. Here are the rules.
Read MoreThe IRS will impose the “Trust Fund Recovery Penalty” on certain business owners and managers personally if employment taxes aren’t paid to the government. Find out if you could be liable.
Read MoreOwners of “pass-through” businesses can claim a valuable tax deduction that was created by a 2017 law. Here’s how much it’s worth and who is eligible.
Read MoreOn the road again for business? Here’s a rundown of costs you can deduct for business travel.
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