Business owners: Are high gas prices getting you down? The IRS is providing some relief by raising the optional standard mileage rate for the last six months of 2022.
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The “dividends-received deduction” may take some of the bite out of a C corporation’s tax bill. Here’s how.
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Small businesses and start-ups engaging in research activities: Here’s a way to save on payroll taxes.
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An important deadline is coming up for quarterly federal estimated tax payments. Here are four methods for corporations to compute them.
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If you’re involved in a partnership, you likely know it’s taxed differently than a C corporation. In some cases, partners may be taxed on more partnership income than was distributed to them from their partnerships. Here’s why.
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If your business provides Health Savings Accounts to employees, you know they have many benefits. Here are a few of them, along with the inflation-adjusted amounts for 2023. Hint: They’re going up more than they have in recent years due to high inflation.
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If your business has independent contractors or makes other payments to customers or others, you probably file 1099 forms with the IRS. The tax agency is currently sending out notices about these forms to some taxpayers.
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If you’re looking for a new partner to add to your partnership, you may think the hard part is over once you find the right person. But there may be tax challenges ahead.
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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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