The pandemic triggered numerous changes in tax law as reflected in the book. But tax law is not static and new legislation, IRS pronouncements, and … Read more about Supplement to J.K. Lasser’s Small Business Taxes 2022
Supplement to J. K. Lasser’s 1,001 Deductions and Tax Breaks 2022
Tax law is not static and new legislation, IRS pronouncements, and court decisions continue to tweak tax rules. They affect reporting on 2021 returns … Read more about Supplement to J. K. Lasser’s 1,001 Deductions and Tax Breaks 2022
Reporting Payments to Independent Contractors: 5 Things to Know
If you engage independent contractors and pay them in the aggregate $600 or more during the year, you must report payments to them and to the IRS. In … Read more about Reporting Payments to Independent Contractors: 5 Things to Know
Some Tax Issues Never Change
In the past several years, business owners have grown accustomed to adapting to many changes in tax rules. Some new rules have been temporary in … Read more about Some Tax Issues Never Change
The Latest Tax Statistics on Partnerships and LLCs
A partnership is not taxpaying entity, but files an annual tax return, Form 1065, to report income, deductions, and other items. These items pass … Read more about The Latest Tax Statistics on Partnerships and LLCs
J.K. Lasser’s Small Business Taxes 2022: What’s New and What’s Ahead
For more than 25 years, I’m proud to say my tax book for small businesses has been the go-to guide for owners and their tax advisers. The 2022 edition … Read more about J.K. Lasser’s Small Business Taxes 2022: What’s New and What’s Ahead
Looking Ahead to 2022 Taxes for Your Business
While your 2021 tax return hasn’t been filed and likely won’t be for many months, it’s not too soon to be thinking about taxes for 2022. Congress is … Read more about Looking Ahead to 2022 Taxes for Your Business
What Is the Global Minimum Tax and Does It Impact Small Businesses
News headlines tout the growing number of countries that have agreed to a global minimum tax rate. At present, 136 countries, which accounts for over … Read more about What Is the Global Minimum Tax and Does It Impact Small Businesses
Escaping Federal Tax Penalties
Late with filing a tax return with the IRS? Didn’t correctly figure and pay what you owe? Did something you weren’t supposed to do? Don’t worry. While … Read more about Escaping Federal Tax Penalties
Tax Credits Ending Soon: What to Do Now
A month from now, on September 30, 2021, a number of business tax credits end. Others are scheduled to expire at the end of the year. Of course, any … Read more about Tax Credits Ending Soon: What to Do Now
Tax Breaks for Investing in Small Corporations
During the government’s 2020 fiscal year (ending September 30, 2020), there were 1.8 million C corporations and more than 5 million S corporations. … Read more about Tax Breaks for Investing in Small Corporations
Need a Business Vehicle? Tax Considerations to Factor into Your Choices
Are you thinking about getting a car, truck, or van now? Hybrid or electric-powered vehicle? Buy or lease a vehicle? And in who’s name (the owner or … Read more about Need a Business Vehicle? Tax Considerations to Factor into Your Choices
Slash Your Federal Tax Bill with Income Tax Credits
A tax credit is a dollar-for-dollar reduction of tax liability. During COVID-19, much attention has been focused on employment tax credits for paid … Read more about Slash Your Federal Tax Bill with Income Tax Credits
Charitable Giving and Your Business
The pandemic has created a great need in a number of communities and for a number of special causes and organizations. But charitable giving is a … Read more about Charitable Giving and Your Business
Tax Deferral from 2020: Time to Pay Up
Due to the pandemic and the desire of the federal government to keep more money in the hands of businesses and individuals, there were certain tax … Read more about Tax Deferral from 2020: Time to Pay Up
