Vehicle-expense deduction ins and outs for individual taxpayers
It’s not just businesses that can deduct vehicle-related expenses. Individuals also can deduct them in certain circumstances. Unfortunately, the TaxRead more.
Are your employees ignoring their 401(k)s?
For many businesses, offering employees a 401(k) plan is no longer an option — it’s a competitive necessity. But employeesRead more.
Beware the Ides of March — if you own a pass-through entity
Shakespeare’s words don’t apply just to Julius Caesar; they also apply to calendar-year partnerships, S corporations and limited liability companiesRead more.
Careful tax planning required for incentive stock options
Incentive stock options (ISOs) are a popular form of compensation for executives and other employees of corporations. They allow youRead more.
Don’t let scope creep ruin your next IT project
Today’s business technology is both powerful and restive. No matter how “feature rich” a software solution or hardware asset mayRead more.
The home office deduction: Actual expenses vs. the simplified method
If you run your business from your home or perform certain functions at home that are related to your business,Read more.
Some of your deductions may be smaller (or nonexistent) when you file your 2018 tax return
While the Tax Cuts and Jobs Act (TCJA) reduces most income tax rates and expands some tax breaks, it limitsRead more.
Best practices when filing a business interruption claim
Many companies, especially those that operate in areas prone to natural disasters, should consider business interruption insurance. Unlike a commercialRead more.
When are LLC members subject to self-employment tax?
Limited liability company (LLC) members commonly claim that their distributive shares of LLC income — after deducting compensation for servicesRead more.
3 big TCJA changes affecting 2018 individual tax returns and beyond
When you file your 2018 income tax return, you’ll likely find that some big tax law changes affect you —Read more.
Financial statements tell your business’s story, inside and out
Ask many entrepreneurs and small business owners to show you their financial statements and they’ll likely open a laptop andRead more.
Fundamental tax truths for C corporations
The flat 21% federal income tax rate for C corporations under the Tax Cuts and Jobs Act (TCJA) has beenRead more.
Why you shouldn’t wait to file your 2018 income tax return
The IRS opened the 2018 income tax return filing season on January 28. Even if you typically don’t file untilRead more.
Refine your strategic plan with SWOT
With the year underway, your business probably has a strategic plan in place for the months ahead. Or maybe you’veRead more.
Depreciation-related breaks on business real estate: What you need to know when you file your 2018 return
Commercial buildings and improvements generally are depreciated over 39 years, which essentially means you can deduct a portion of theRead more.