1099 vs. W-2: How Independent Contractors and Employees Differ
An employee performs work for you under your direct or indirect supervision, during hours that you specify and conditions you control. You also withhold payroll…
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Recommended Reading for Business Owners
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(For more information on how it works, watch this video)
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Drive more savings to your business with the heavy SUV tax break
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Tax Planning: Section 179 Expense
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Setting Sales Goals with Key Performance Indicators
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Health Savings Accounts for Your Small Business
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Do you want to withdraw cash from your closely held corporation at a low tax cost?
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5 Factors that Determine Your Tax Position
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Business Website Costs: How to Handle Them for Tax Purposes
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Part 2 – Loan Payment
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Part 1 – Equipment Purchases
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2020 Q4 tax calendar: Key deadlines
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File cash transaction reports for your business — on paper or electronically
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Why do partners sometimes report more income on tax returns than they receive in cash?
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Businesses: Get ready for the new Form 1099-NEC
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Small Business Grants
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Payroll Taxes & Work-Share Program
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New rules will soon require employers to annually disclose retirement income to employees
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2020 Q1 tax calendar: Key deadlines for businesses and other employers
Here are some of the key tax-related deadlines affecting businesses and other employers during the first quarter of 2020. Keep in mind that this list…
Holiday parties and gifts can help show your appreciation and provide tax breaks
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The tax implications if your business engages in environmental cleanup
If your company faces the need to “remediate” or clean up environmental contamination, the money you spend can be deductible on your tax return as…
Small businesses: Get ready for your 1099-MISC reporting requirements
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Thinking about converting from a C corporation to an S corporation?
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Accelerate depreciation deductions with a cost segregation study
Is your business depreciating over a 30-year period the entire cost of constructing the building that houses your operation? If so, you should consider a…
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Given the escalating cost of employee health care benefits, your business may be interested in providing some of these benefits through an employer-sponsored Health Savings…
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How to treat your business website costs for tax purposes
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Finish the year as strong as you started
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2019 Q4 tax calendar: Key deadlines for businesses and other employers
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The key to retirement security is picking the right plan for your business
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The tax implications of a company car
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Should you elect S corporation status?
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The IRS is targeting business transactions in bitcoin and other virtual currencies
Bitcoin and other forms of virtual currency are gaining popularity. But many businesses, consumers, employees, and investors are still confused about how they work and…
Take a closer look at home office deductions
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Businesses can utilize the same information IRS auditors use to examine tax returns
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It’s a good time to buy business equipment and other depreciable property
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M&A transactions: Avoid surprises from the IRS
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Which entity is most suitable for your new or existing business?
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2019 Q3 tax calendar: Key deadlines for businesses and other employers
Here are some of the key tax-related deadlines affecting businesses and other employers during the third quarter of 2019. Keep in mind that this list…
Hiring this summer? You may qualify for a valuable tax credit
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Employers: Be aware (or beware) of a harsh payroll tax penalty
If federal income tax and employment taxes (including Social Security) are withheld from employees’ paychecks and not handed over to the IRS, a harsh penalty…
Tax-smart domestic travel: Combining business with pleasure
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Hire your children this summer: Everyone wins
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Consider a Roth 401(k) plan — and make sure employees use it
Roth 401(k) accounts have been around for 13 years now. Studies show that more employers are offering them each year. A recent study by the…
What type of expenses can’t be written off by your business?
If you read the Internal Revenue Code (and you probably don’t want to!), you may be surprised to find that most business deductions aren’t specifically…
Employee vs. independent contractor: How should you handle worker classification?
Many employers prefer to classify workers as independent contractors to lower costs, even if it means having less control over a worker’s day-to-day activities. But…
How entrepreneurs must treat expenses on their tax returns
Have you recently started a new business? Or are you contemplating starting one? Launching a new venture is a hectic, exciting time. And as you…
Deducting business meal expenses under today’s tax rules
In the course of operating your business, you probably spend time and money “wining and dining” current or potential customers, vendors and employees. What can…
Divorcing business owners need to pay attention to tax implications
If you’re getting a divorce, you know it’s a highly stressful time. But if you’re a business owner, tax issues can complicate matters even more.…
Understanding how taxes factor into an M&A transaction
Merger and acquisition (M&A) activity has been brisk in recent years. If your business is considering merging with or acquiring another business, it’s important to…
2019 Q2 tax calendar: Key deadlines for businesses and other employers
Here are some of the key tax-related deadlines that apply to businesses and other employers during the second quarter of 2019. Keep in mind that…
Could your business benefit from the tax credit for family and medical leave?
The Tax Cuts and Jobs Act created a new federal tax credit for employers that provide qualified paid family and medical leave to their employees.…
There’s still time for small business owners to set up a SEP retirement plan for last year
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Will leasing equipment or buying it be more tax efficient for your business?
Recent changes to federal tax law and accounting rules could affect whether you decide to lease or buy equipment or other fixed assets. Although there’s…
Beware the Ides of March — if you own a pass-through entity
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The home office deduction: Actual expenses vs. the simplified method
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When are LLC members subject to self-employment tax?
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Fundamental Tax Truths for C Corporations
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Depreciation-related breaks on business real estate: What you need to know when you file your 2018 return
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Many tax-related limits affecting businesses increase for 2019
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Is there still time to pay 2018 bonuses and deduct them on your 2018 return?
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Higher mileage rate may mean larger tax deductions for business miles in 2019
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Business owners: An exit strategy should be part of your tax planning
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A refresher on major tax law changes for small-business owners
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6 last-minute tax moves for your business
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2019 Q1 tax calendar: Key deadlines for businesses and other employers
Here are some of the key tax-related deadlines affecting businesses and other employers during the first quarter of 2019. Keep in mind that this list…
When holiday gifts and parties are deductible or taxable
The holiday season is a great time for businesses to show their appreciation for employees and customers by giving them gifts or hosting holiday parties.…
Tax reform expands availability of cash accounting
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Could a cost segregation study help you accelerate depreciation deductions?
Businesses that acquire, construct or substantially improve a building — or did so in previous years — should consider a cost segregation study. It may…
Businesses aren’t immune to tax identity theft
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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,…
2018 Q4 tax calendar: Key deadlines for businesses and other employers
Here are some of the key tax-related deadlines affecting businesses and other employers during the fourth quarter of 2018. Keep in mind that this list…
How to reduce the tax risk of using independent contractors
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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…
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…
Choosing the right accounting method for tax purposes
The Tax Cuts and Jobs Act (TCJA) liberalized the eligibility rules for using the cash method of accounting, making this method — which is simpler…
Do you qualify for the home office deduction?
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Business deductions for meal, vehicle and travel expenses: Document, document, document
Meal, vehicle and travel expenses are common deductions for businesses. But if you don’t properly document these expenses, you could find your deductions denied by…
Choosing the best business entity structure post-TCJA
For tax years beginning in 2018 and beyond, the Tax Cuts and Jobs Act (TCJA) created a flat 21% federal income tax rate for C…
The ABC’s of Reading Your Financial Statements
Do you know how to understand your numbers in a meaningful way? Do you understand the terminology? Do you know your break-even point and is…
Finally Understanding Your Numbers: Financial and Accounting Tools to Take Your Small Business to the Next Level
Business owners always ask us what they need to know when they look at their financial statements. What does this piece of paper tell me?…
Ten Secrets to Achieving Results in Your Small Business
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Picking the Right Accounting Firm: Establish a 5 Star Alliance Team for Business Advice and Financial Decisions
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Starting a Small Business: Where to start with Entity Selection, Accounting and Taxes
Starting a Small Business Starting a business can be a very exciting time. It also presents some challenges. Having the proper tools and skills in…
Accounting and Financial Advice to Help Grow your Small Business
Accounting and Financial Advice to Help Grow your Small Business Many skilled people go into business because they are a great plumber, gifted lawyer, or…
Tips on How to Develop a Budget for Your Small Business
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Estimated Tax Payments; Do I Need to Make Them, When and How?
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How to Track and Record Credit Card Expenses for Your Business
Every business has expenses. And with the growing popularity of small business credit cards and low interest rates, many business owners are using them to…
Help Me Save on Taxes
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2018 Tax Law Summary Changes to Itemized Deductions
This visually friendly view of the Schedule A will help you understand the changes the new tax law made to the itemized deductions. For questions…
Tackling the Clutter of Your Financial Records
Are you stressing out at tax time trying to find all the necessary documents to file your tax returns? Do you wonder what records are…
A Business Planning Guide: Six Essential Factors
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Do You Pay Taxes When You Take an Income Distribution?
All business owners face an interesting challenge: how to take profits out of the company and pay the least amount of taxes in the process.…
Why Small Businesses Fail: 6 Financial and Accounting Traps that Small Business Owners Fall Into
Businesses start and fail at a staggering rate. Every year over a million people start a business of some sort and by the end of…
IRS Red Flags: 7 Tax Tips to Prevent Triggering an Audit for Small Business Owners
Did your business receive a Tax Audit Notification letter in the mail? What should you do and how should you resolve this? Panic is usually…
5 Critical Accounting Mistakes Small Business Owners Make When Managing the Financial and Accounting Area of Their Business
When it comes to managing a business your accounting is critical. Most mistakes that are made when it comes to the accounting aspect of any…
IRS Tax Scam Alert; Protect Your Assets
IRS Tax Scam Alert; Protect Your Assets A new breed of criminals is on the prey targeting taxpayer assets. With the many enhancements of technology…
The IRS Plans to Examine Proper Reporting of Tips and Service Charges
The IRS Plans to Examine Proper Reporting of Tips and Service Charges The Internal Revenue Service (IRS) has announced it will start enforcing and focusing…