Small business owners must answer an important question: Should we use the cash or accrual accounting method for federal income tax purposes? Larger entities are required to use the accrual method. But certain small businesses […]
Summer is often a good time to revisit your estate plan, especially if you’re getting together with loved ones for vacations or family gatherings. Of course, […]
Last year, the new tax deduction for taxpayers 65 and older was sometimes referred to as “no tax on Social Security.” In actuality, this up-to-$6,000-per-individual deduction, also known as the “senior” deduction, is generally available […]
U.S. military veterans own majority stakes in more than 1.6 million businesses and represent 5.3% of this country’s business owners, according to the U.S. Small Business Administration. Even if you aren’t a veteran, you might employ […]
Start-ups must choose a legal entity for their business activities. The type of entity you select affects how the business is taxed and who may be held personally liable for its debts and obligations, among […]
Home values have risen significantly in many areas of the country over the last several years, leaving some homeowners with substantial gains when they sell. Of course a large profit is generally a good thing. […]
Do you operate a side gig in addition to your regular day job? Whether you’ve turned a love for crafting into an online store or you play the guitar at a local venue, you’ll need […]
The IRS created Revenue Ruling 59-60 to outline the methods and factors to consider when valuing closely held businesses for federal gift and estate tax purposes. Today, it’s often referenced in valuations prepared for other […]
Even with a relatively low unemployment rate (averaging around 4.4% over the past year), layoffs and terminations continue to affect workers across many industries. If you’ve […]
If you’re a real estate developer or a small business owner who owns commercial real estate, you might be thinking about selling a property. If it […]
