If your business operates as a C corporation, you may save tax by becoming an S corporation. Here’s a rundown of four issues to consider when converting from C corporation to S corporation status.
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Wining and dining customers and employees can result in tax deductions and for 2022, the write-offs are bigger than usual.
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Does this year’s April 18 filing deadline apply to your company? What additional tax deadlines are there for businesses and employers during the second quarter of 2022?
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The best tax planning actions for your business partially depend on whether you expect federal income tax rates to go up, go down or stay the same in the future. Here are some ideas if you think rates could go up.
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If you’re a business owner, setting up a retirement plan is easier than you may think. And there’s still time to establish most types of plans for LAST year.
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Bartering is the oldest form of trade and the internet has made it easier to engage with other businesses. It’s especially popular during tough economic times. But if you trade goods or services, be aware of the tax consequences.
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Does your startup business have little or no income tax liability? You may be eligible for a payroll tax credit election for increasing research activities.
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If you own your own business, the rules for deducting a spouse’s travel costs are very restrictive. Here are the rules.
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Dividends paid out by corporations are taxable to shareholders and can’t be deducted by the corporation. But there might be ways to get cash out of your corporation without dividend treatment. Here are some approaches.
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Many small businesses operate as sole proprietorships. Here are eight tax issues involved in operating as this entity
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Entrepreneurs be aware: Not all start-up expenses can be deducted on your federal tax return right away. Some may have to be amortized over time.
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A careful approach to keeping business records can protect your tax deductions and help make an IRS audit much less difficult. Here are two cases to illustrate some of the issues involved.
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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.
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Ever wonder how much of a tax break you’d get if you bought a private plane for your business? Here are the basic rules.
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Allocating year-end tax planning time now can prove beneficial come tax filing time next year.
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There are many factors to consider when choosing a business entity. Here are just a few.
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Looking for a flexible, tax-advantaged option for providing health care coverage at your business? Consider a Health Savings Account. Employers and employees can benefit.
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Business 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.
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Your 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.
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With 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.
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