The Tax Foundation released its 2019 State Business Tax Climate Index. The index explores these state-level taxes: state income tax, unemployment … Read more about How Does Your State Measure Up Taxwise?
Deducting Business Meals
The Tax Cuts and Jobs Act eliminated any deduction for entertainment costs, so taking a customer to a ballgame or an associate to the theater is not … Read more about Deducting Business Meals
Terminating Your S Election?
The flat 21% tax rate on the profits of a C corporation has left many S corporations thinking about revoking their election. Certainly for some S … Read more about Terminating Your S Election?
What You Should Know about the Streamlined Sales Tax
The Streamlined Sales Tax is an organization that started in 2000 with the goal of finding solutions for the complexity in state sales tax systems. … Read more about What You Should Know about the Streamlined Sales Tax
Your Sideline Business Better Be for Profit
That’s the admonition to those with or considering a sideline activity if you want good tax results -- "Your sideline business better be for … Read more about Your Sideline Business Better Be for Profit
3 Big Reasons to Rethink Retirement Plans
Qualified retirement plans aren’t just for large corporations. There are a number of compelling reasons for small businesses to consider adopting a … Read more about 3 Big Reasons to Rethink Retirement Plans
10 Smart Things You Can Do with an Extra $10Gs
If your business nets $50,000 and you qualify for the new 20% business income deduction for owners of pass-through entities, you’ll save $10,000 in … Read more about 10 Smart Things You Can Do with an Extra $10Gs
Do’s and Don’ts for the Home Office Deduction
According to the SBA, about 50% of all businesses in the U.S. are home-based. More specifically, 60.1% of all businesses without paid employees are … Read more about Do’s and Don’ts for the Home Office Deduction
What the Supreme Court’s Decision on Taxing Internet-based Sales Means to You
On June 21, 2018, the U.S. Supreme Court, in a 5-4 decision, changed a position it had held for decades. Back in the early 90’s, the Court, in a case … Read more about What the Supreme Court’s Decision on Taxing Internet-based Sales Means to You
Helping Employees Pay Business Expenses
If your employees pay for some business expenses, they’re going to be in for a big surprise when they file their 2018 returns in 2019. They won’t be … Read more about Helping Employees Pay Business Expenses
Partnerships and LLCs from a Tax Perspective
A partnership is not a taxpaying entity (unless there is an adjustment from an audit under the Bipartisan Budget Act audit rules), but it files an … Read more about Partnerships and LLCs from a Tax Perspective
Take Credit for Giving Paid Medical Leave
Federal law doesn’t make you pay employees who take family and medical leave. This is so even if you are required by the federal Family and Medical … Read more about Take Credit for Giving Paid Medical Leave
5 Things to Do for Your Business (and Yourself) with a Tax Refund
Most owners of small businesses have pass-through entities (e.g., sole proprietorships, S corporations, partnerships, LLCs) and report their share of … Read more about 5 Things to Do for Your Business (and Yourself) with a Tax Refund
Are You Confused by the Tax Cuts and Jobs Act?
If so, you’re not alone. According to a survey by Reliant Funding, 53% of small businesses are confused by the Tax Cuts and Jobs Act and plan to … Read more about Are You Confused by the Tax Cuts and Jobs Act?
How the Tax Cuts and Jobs Act Is Changing How We Do Business
Following enactment of the Tax Cuts and Jobs Act, there’s been much public discussion about tax rate changes, the 20%qualified business deduction for … Read more about How the Tax Cuts and Jobs Act Is Changing How We Do Business
