You can still set up a retirement plan for 2018
If most of your money is tied up in your business, retirement can be a challenge. So if you haven’t already set up a tax-advantaged retirement plan, consider doing so […]
Year-end tax planning for businesses in the new tax environment
The passage of the Tax Cuts and Jobs Act (TCJA) in late 2017 brought significant changes to the tax landscape. As the first tax season under the law looms on […]
You still have options after the DPAD repeal
As you may have heard, a special deduction designed to stimulate the U.S. manufacturing sector and various other industries — the domestic production activity deduction (DPAD) — was repealed after […]
Be sure your employee travel expense reimbursements will pass muster with the IRS
Does your business reimburse employees’ work-related travel expenses? If you do, you know that it can help you attract and retain employees. If you don’t, you might want to start, […]
Businesses aren’t immune to tax identity theft
Tax identity theft may seem like a problem only for individual taxpayers. But, according to the IRS, increasingly businesses are also becoming victims. And identity thieves have become more sophisticated, […]
Small business owners: Consider an SEP
One type of retirement plan that often fits the needs of small business owners is the Simplified Employee Pension (SEP). Typically, accounts are set up as SEP IRAs, much like […]
Keep it SIMPLE: A tax-advantaged retirement plan solution for small businesses
If your small business doesn’t offer its employees a retirement plan, you may want to consider a SIMPLE IRA. Offering a retirement plan can provide your business with valuable tax […]
Assessing the S corp
The S corporation business structure offers many advantages, including limited liability for owners and no double taxation (at least at the federal level). But not all businesses are eligible – […]
The tax dilemma for business drivers
If you use a vehicle for business driving, you have a tax choice: deduct your actual expenses or use an IRS-approved standard mileage rate. Frequently, the actual expense method will […]
How to salvage a casualty loss deduction
You’ve likely heard about the volcanic eruptions in Hawaii and how they’ve caused extensive damage to the property of several U.S. taxpayers. And as we head into hurricane and tornado […]