S corporations are corporations formed under state law that elect to be taxed as pass-through entities for federal income tax purposes. Most states … Read more about Is It Time to Terminate an S Election?
Which Legal Fees Are Deductible?
“Lawyers are seldom loved but often needed,” according to Robert B. McCay, who was a former dean at NYU Law School. In the course of your business … Read more about Which Legal Fees Are Deductible?
What’s Next for Nexus?
The dictionary defines nexus as a connection or link. In tax parlance, it means having a significant physical presence within a state so that a … Read more about What’s Next for Nexus?
Vendor Financing for Equipment Purchases
If you need new equipment, whether large or small, determine whether you can afford it. Not buying equipment can cost you dearly in lost … Read more about Vendor Financing for Equipment Purchases
Boomers on the Payroll: What You Need to Know
According to the National Council on Aging, by 2019, 25% of the American workforce will be age 55 or older. Whether you have seniors on your … Read more about Boomers on the Payroll: What You Need to Know
Earned Income Tax Credit and Your Business
There’s a perception that the earned income tax credit (EITC) is a giveaway and it is only for the working poor. January 27, 2017, is EITC Awareness … Read more about Earned Income Tax Credit and Your Business
Tax Safe Harbors for Small Businesses
There are a number of so-called safe harbors that businesses can use to simplify their tax lives. Unfortunately, understanding these safe harbors can … Read more about Tax Safe Harbors for Small Businesses
10 Ways to Borrow Money
Do you have big plans for 2017, such as starting a new line, hiring additional employees, or expanding to another location? If you need capital to … Read more about 10 Ways to Borrow Money
10 New Year’s Resolutions for this Tax Season
While the filing deadline for your 2016 federal income tax return isn’t until April 18, 2017, it’s not too early to take measures that will make this … Read more about 10 New Year’s Resolutions for this Tax Season
Looking Back on 2016 and Ahead to 2017
This has been quite a year for small businesses in the U.S. Much has happened, and much is anticipated in the coming year. Let’s look back on … Read more about Looking Back on 2016 and Ahead to 2017
Partnerships and LLCs from a Tax Perspective
A partnership is not a tax-paying entity, but files an annual tax return, Form 1065, to report income, deductions, and other items. These items pass … Read more about Partnerships and LLCs from a Tax Perspective
Defining Small Business for Tax Reform Purposes
“Small business owners” are part of the tax reform conversation that is underway, but what does this term mean? The Treasury’s Office of Tax Analysis … Read more about Defining Small Business for Tax Reform Purposes
Sole Proprietorships on the Rise
Recently released IRS statistics for 2014 show that there is a growing number of sole proprietorships in the U.S. Sole proprietorships are taxpayers … Read more about Sole Proprietorships on the Rise
Planning for Year-End Bonuses
Has 2016 been a good year for your business? The time is growing short for you to address the matter of year-end bonuses. According to the 2016 … Read more about Planning for Year-End Bonuses
What to Do if You Can’t Pay Your Employment Taxes?
Cash is tight and you are in a quandary about whether to pay your quarterly employment taxes to the federal government or pay your supplier for … Read more about What to Do if You Can’t Pay Your Employment Taxes?
