News

For most business co-owners, the value of their business shares comprises a big percentage of their estates. Having a buy-sell agreement protects co-owners and their heirs and helps avoid hassles with the IRS.

Closely held corporation owners: If you need money for personal expenses like a new car or home improvements, consider borrowing from the business. But follow these tips to avoid adverse tax consequences.

Summer is here and tax deadlines are probably the last thing on your mind. But there are some important third-quarter deadlines that businesses can’t afford to forget about.

Hiring your child at your business this summer? It can be a tax-smart idea. Here are the benefits.

There are several factors to consider when converting from a C corporation to an S corporation. Here are four of the tax issues you may face.

An important deadline for quarterly federal estimated tax payments is coming up on June 17. Here are the methods for computing payments for corporations.

When buying a business, you may not focus on taxes. But the way the transaction is structured can lead to better or worse tax results after the acquisition.

There are potential federal income tax advantages when you include debt in the capital structure of a C corporation. Here’s a rundown.

If you’re adding a new partner to your partnership, you may think the tough part is over once you find the right person. But there could be complex tax issues to consider.

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.

What follows is a summary of the stimulus relief for businesses that is part of the Consolidated Appropriations Act, 2021 (H.R. 133) which was signed into law on December 27, 2020.