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Accounting for the Trucking Industry
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  • Home
  • Firm Profile
    • Accounting Fees
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      • 2023 Norwalk Business Hall of Fame
      • 2019 Best of Norwalk Award
      • 2014 Best of Norwalk Award
      • Two-Time Award Winner
    • Testimonials
    • Track Record
      • 2015 Peer Review
      • 2012 Peer Review
      • 2011 Peer Review
      • 2009 Peer Review
      • 2008 Peer Review
  • Services
  • FAQ
    • Pay Your IRS Bill
    • Six Tips on Gambling Income and Losses
    • The Refund Guru
    • US Commerce Association
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    • Strategic Business Planning
    • Small Business Accounting
    • Payroll Services
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  • Business Owners
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Accounting for the Trucking Industry
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Tag: tax law

September 29, 2025September 29, 2025tax

Tax Risks of Personally Guaranteeing a Business Loan: What Owners of Closely Held Corporations Must Know

If you’re an owner, officer, or key employee of a closely held corporation, you may be asked to personally guarantee a business loan. Before signing, it’s essential to understand the potential tax consequences. Acting as a […]

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September 23, 2025September 23, 2025tax

Receiving $10,000 or More in Cash at Your Business? Here’s What the IRS Requires

If your business accepts large cash payments, the IRS requires you to report them — and not just on your tax return. Failing to comply can lead to costly penalties. Here’s what you need to […]

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