If you're an S corporation shareholder, a partner in a partnership, or a member of a limited liability company (LLC), one tax rule applies to you: You … Read more about Basis Basics for Owners of Pass-Through Entities
Key Person Life Insurance: Who, What, Where, When, and Why
Many small businesses depend greatly on a particular individual. This may be a key salesperson, a designer, or someone else with unique talent and … Read more about Key Person Life Insurance: Who, What, Where, When, and Why
What Does the IRS Have Against Food?
Nothing, unless you want to deduct it or otherwise get a tax benefit from it. There are only limited situations in which you can get a tax break for … Read more about What Does the IRS Have Against Food?
Taking the Confusion out of Business versus Investment Treatment
The tax law has a number of provisions that have different results depending on whether the subject is viewed as a business or as an investment. The … Read more about Taking the Confusion out of Business versus Investment Treatment
Encouraging Employee Education
On my desk I have a quote from Benjamin Franklin that reads: "An investment in knowledge pays the best interest." Employers who embrace this … Read more about Encouraging Employee Education
