News

If you’re a partner in a partnership business, can you deduct expenses you incur on your personal tax return? Here are the rules.

A meticulous approach to maintaining business records can help protect your tax deductions and make an IRS audit much less difficult. Here’s a recent court case illustrating some of the issues involved.

Businesses: Do you expect federal income tax rates to go up, go down or stay the same in the future? If you think your rates could go up, here are some considerations.

If you’re a business owner without a retirement plan, establishing one is simpler than you may think. And there still may be time to set one up for LAST year, depending on your situation.

Spring is here, along with a bunch of tax-related deadlines. Here are some upcoming dates for the second quarter of 2024 that businesses and employers should keep in mind.

If your small business would like to exchange goods and services without exchanging money, you may be able to barter. The internet makes it easier to engage with other businesses. But if you barter, be aware of the tax consequences.

Even if your startup business has little or no income tax liability, you may be eligible for a payroll tax credit election for increasing research activities. This tax break got better under the Inflation Reduction Act.

As you may know, dividends paid out by a corporation are taxable to shareholders and can’t be deducted by the business. But there may be ways to get cash out of your closely held corporation without dividend treatment.

Many businesses have a choice of using cash or accrual accounting for tax purposes. If you’re one of them, which route should you take? Here are the rules.

Many new ventures start out as sole proprietorships. Here are nine considerations if you’re operating a business that way.

Aggressive marketing encouraging businesses to claim the pandemic-related Employee Retention Tax Credit led to many taxpayers erroneously receiving refunds. The IRS has a program that allows them to come forward and repay part of the money before collection efforts begin.

There are two strong incentives for eligible small businesses to operate as a special type of entity. Learn how a Qualified Small Business Corporation may work for your entity.

There’s a new fringe benefit your business may want to offer your employees: pension-linked emergency savings accounts. Here’s how they work.

If you’re a restaurant owner with employees receiving tips, you may qualify for a lucrative tax break.

The real estate market has been tough recently. But there are still large profits being made on some business property. In these cases, a “like-kind” exchange may be attractive when selling commercial or investment real estate.

For many key employees, the use of a company car is a cherished perk. But before you hand over the keys, make sure you understand the federal tax rules.

Spread some holiday cheer by giving gifts to employees or customers … or throwing a festive party. But make sure you understand the tax rules and how much can be deducted.

In the first quarter of 2024, businesses face several tax-related deadlines. Here are some key due dates and obligations.

Ever heard of a cost segregation study? It’s a strategy that can yield tax benefits, but it’s not the right move for every business. Here’s how it can help accelerate depreciation deductions on the building that houses your enterprise.

The IRS recently announced the special “per diem” rates that became effective Oct. 1, 2023. Here are the basics of these rates.

Certain business owners and some of their employees don’t have to pay Social Security tax on all their wages. Amounts above a threshold aren’t subject to Social Security tax. The “wage base” for 2024 was recently announced by the Social Security Administration.

If you're looking for a way to incentivize and retain key employees, considering offering a nonqualified deferred compensation (NQDC) plan.

Though the labor market has stabilized since 2021's "Great Resignation," some businesses continue to lose employees and struggle to replace them. You might try to stem this issue by conducting "stay interviews."

What is a pitch deck, and how can you make yours engaging and effective?