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Writing Off Casualty or Disaster Losses for Your Business
September is National Preparedness Month and the theme this year from Ready.gov is prepare for disasters to create a lasting legacy for you and your ... -
Thresholds Are Confusing for Information Reporting
Saying that tax rules are confusing is an understatement. Sometimes they’re almost impossible to understand. When it comes to requirements for reporting certain income, expenses, ... -
Writing Off the Cost of Business Driving
Gas prices at the pump have nearly doubled in one year, causing severe strain on business budgets. This is especially so for businesses that are ... -
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 ... -
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 ... -
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 ... -
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 ... -
10 Things to Know about Business Meals
You gotta eat, right? But when it comes to meals, what’s business and what’s personal? If it’s personal, nothing is deductible, but if it’s a ... -
What’s New for Employee Benefits This Year?
The Consolidated Appropriations Act, 2021 (CAA), signed into law on December 27, 2020, changed some important rules impacting various employee benefits for 2021. With ... -
Why You’re Going to Need More Cash in 2021 for Taxes
This year has been a very difficult one for small business owners. Some tax rules have made it a little easier to defer some taxes ... -
Setting Up a Home Office
Working from home—full time or occasionally—has become the norm for many business owners. It’s been my norm for more than 35 years. And with the ... -
5 Surprising Tax Rules Every Business Should Know
When you’re in business, you kind of assume that all of your expenses are fully deductible. But this assumption is wrong. The tax law imposes ... -
Get Ready for Federal, State, and Local Changes in 2020
To paraphrase Bob Dylan, the rules are a-changin’ and businesses should prepare for new government rules and regulations. Here are some things to look for ... -
Business and Tax Rules for Veteran Entrepreneurs
Here are some business and tax rules unique to veterans. Veterans Day, November 11, is a federal holiday that has come to be a day ... -
Unraveling Conflicting Tax Rules for Active versus Passive Business Owners
It is commonly accepted wisdom that tax rules are complicated. This belief is well supported by the conflicting tax rules that apply to business owners, ... -
When 'NOT' to Elect First-Year Expensing
The Tax Cuts and Jobs Act dramatically increased the dollar limit on first-year expensing (the Section 179 deduction) for the purchase of equipment and other ... -
New Rules for Writing Off Equipment, Vehicles, and More
The Tax Cuts and Jobs Act of 2017 made a variety of favorable changes in the rules for deducting the cost of buying certain items ... -
What the Tax Cuts and Jobs Act Means to You
On December 20, 2017, Congress passed the largest piece of tax legislation in many years. It makes dramatic changes for individuals and businesses. But it ...
Tag: tax rules
Small business ideas, business tax news and small business consulting from Barbara Weltman to provide business owners with the information they need to succeed. Visit our small business blog, Idea of The Day®, small business books and articles on small business taxes, small business finance and small business legal advice.
