To run your business efficiently, you need good equipment and machinery. You may want to add to or replace what you have now. Newer versions usually … Read more about 10 Things to Know about Bonus Depreciation
QBI Deduction and Tax Savings
The Tax Cuts and Jobs Act Created a New Type of Deduction—the Qualified Business Income (QBI) Deduction This deduction is designed to lower the … Read more about QBI Deduction and Tax Savings
10 Tax-Related Questions About a Company Vehicle
Most businesses use vehicles—cars, trucks, or vans—to conduct their activities. For example, on Schedule Cs for self-employed individuals in 2015 (the … Read more about 10 Tax-Related Questions About a Company Vehicle
Double Dip Tax Breaks for R&D
If your business conducts research and development (R&D), you may be eligible for certain tax breaks. This is so whether you’re creating a new … Read more about Double Dip Tax Breaks for R&D
Special Tax Breaks for Farmers
The majority of the more than 2 million farms in the U.S. are small businesses. The USDA says that “in 2016, farms organized as pass-through entities … Read more about Special Tax Breaks for Farmers
Tax Cost of Living Adjustments (COLAs) for 2019
There are dozens of numbers used for benefits, limitations, thresholds, and other rules for various tax breaks that can be adjusted annually for … Read more about Tax Cost of Living Adjustments (COLAs) for 2019
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
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
Tax Preparation Challenges for Small Businesses
According to survey results from Staples, more than half of small business owners view tax preparation as complicated and, surprisingly, nearly 50% … Read more about Tax Preparation Challenges for Small Businesses
Quiz on Tax Rules for Small Businesses
When it comes to tax rules, there are many misconceptions among small business owners. While their CPAs likely will get things right when they … Read more about Quiz on Tax Rules for Small Businesses
Timing Is Everything in Business: Watch Deadlines and Statutes of Limitations
Apparently, the statement that timing is everything can be traced to the Greek poet Hesiod who said “Observe due measure, for right timing is in all … Read more about Timing Is Everything in Business: Watch Deadlines and Statutes of Limitations
5 Last Minute Tax Tips for Your Taxes
The vast majority of small business owners—most of whom report their share of business income on their personal returns—use paid preparers to complete … Read more about 5 Last Minute Tax Tips for Your Taxes
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 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
What are the Tax Consequences of Your Crowdfunding Efforts?
When you raise money for your business through crowdfunding your goal is to have the funds needed for a specific purpose. The last thing you probably … Read more about What are the Tax Consequences of Your Crowdfunding Efforts?
