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For Small Businesses: Ensure Your Partnership or LLC Complies with Tax Law

September 17, 2024

Guaranteed payments to partners and payments to retired partners are just two of the tax issues that should be addressed in your partnership (or LLC operating) agreement. Here are the details.

For Small Businesses: Craft Partnership & LLC Operating Agreements

September 12, 2024

If your business is creating a partnership agreement or LLC operating agreement, it should include tax-related specifications. Here are some key points.

For Small Businesses: Reasons an LLC Might Be the Ideal Choice

September 12, 2024

A limited liability company can provide personal liability protection from creditors while delivering tax benefits. Is it right for you?

For Small Businesses: Time to Think About Tax Planning

September 12, 2024

We’ll be saying goodbye to 2024 in no time. Here are some year-end moves to consider that may help your small business save on taxes.

For Small Businesses: On Crafting Partnership & LLC Operating Agreements

August 27, 2024

If your business is creating a partnership agreement or LLC operating agreement, it should include tax-related specifications. Here are some key points.

For Small Businesses: What's Best for Taxes, Cash or Accrual Accounting?

August 23, 2024

Choosing between the cash method of accounting and the accrual method for tax purposes can impact your tax situation. But not all businesses qualify for both methods.

For Small Businesses: Understanding Taxes on Real Estate Gains

August 15, 2024

If you’re the owner of a pass-through entity, the federal income tax rules for gains from the sale of business real estate or vacant land may be more complicated than you thought. Here’s a look at the issues.

For Small Businesses: The Possible Future Tax Landscape for Businesses

August 5, 2024

The tax landscape for businesses may change significantly in the near future. That’s because provisions in the Tax Cuts and Jobs Act are scheduled to expire and the November elections will be decided. Here are some possible outcomes.

For Small Businesses: Handling Website Expenses for Tax Purposes

July 29, 2024

When developing your business’s website, how do you handle the expenses for tax purposes? Here are the basic rules.

For Small Businesses: Closing Involves a Number of Tax Responsibilities

July 25, 2024

If your business is closing, taxes are probably not on your mind but there are a number of tax responsibilities that must be met. Here’s a rundown of the basic rules.

For Small Businesses: Tax Consequences of Selling Biz Property

July 17, 2024

What are the tax consequences of selling business assets? They can be complex.

For Small Businesses: If Co-Owners, You Probably Need a Buy-Sell Agreement

July 16, 2024

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.

For Small Businesses: On Borrowing From Your Corp

July 16, 2024

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.

Q3 2024 Tax Calendar, provided by NMS CPA, local Ohio CPA firm

For Small Businesses: 2024 Q3 Tax Calendar

June 25, 2024

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.

For Small Businesses: Hiring Your Child This Summer Might Be Smart

June 18, 2024

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

For Small Businesses: Should You Convert From a C to an S Corp?

June 17, 2024

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.

For Small Businesses: Figuring Corporate Estimated Tax

June 12, 2024

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

For Small Businesses: Tax Tips When Buying the Assets of a Business

May 27, 2024

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.

Block letters spelling "DEBT" leaning against a ruler, next to the words "C corporation"

For Small Businesses: Tax Advantages of Debt in a C Corp

May 17, 2024

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

For Small Businesses: On Growing With a New Partner

May 13, 2024

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.

For Small Businesses: When Partners Pay Expenses Related to the Business

May 2, 2024

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

For Small Businesses: The Key to Less Painful IRS Audits

April 28, 2024

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.

For Small Businesses: Consider a Contrary Approach with Income and Deductions

April 28, 2024

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.

For Small Businesses: Don't Have a Tax-Favored Retirement Plan? Set One Up Now

April 28, 2024

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.

Q2 2024 Tax Calendar, provided by NMS CPA, local Ohio CPA firm

For Small Businesses: 2024 Q2 Tax Calendar

April 6, 2024

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.

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