Changes in Sec. 174 Make it a Good Time to Review the R&E Strategy of Your Business
It’s been years since the Tax Cuts and Jobs Act (TCJA) of 2017 was signed into law, but it’s still having an impact. Several provisions in the […]
Claiming Losses on Depreciated or Worthless Stock
Have you bought stock in a company that later dropped in value? While you may prefer to forget such an ill-fated investment, at least […]
Measuring Fair Value for Financial Reporting Purposes
Fair market value is the appropriate standard of value in most business valuation assignments. But when valuing an asset for financial reporting purposes, fair value is generally […]
The Tax Advantages of Hiring Your Child This Summer
Summer is around the corner so you may be thinking about hiring young people at your small business. At the same time, you may […]
Protect the “Ordinary and Necessary” Advertising Expenses of Your Business
Under tax law, businesses can generally deduct advertising and marketing expenses that help keep existing customers and bring in new ones. This valuable tax deduction can help […]
IRS Issues Guidance Related to the New Clean Vehicle Critical Mineral and Battery Components
As appearing in IRS Newswire IR-2023-64
The Internal Revenue Service just issued a proposed regulation […]
Awarded Money in a Lawsuit or Settlement? It’s Only Tax-Free in Certain Circumstances
You generally must pay federal tax on all income you receive but there are some exceptions when you can exclude it. For example, compensatory […]
Turn That Fraud Dispute into a Loyalty-Building Opportunity
If customers report fraud or suspicious charges on their accounts, what might seem like a challenge can actually be an opportunity for your business. Handle these disputes […]
Buying a New Business Vehicle? A Heavy SUV is a Tax-Smart Choice
If you’re buying or replacing a vehicle that you’ll use in your business, be aware that a heavy SUV may provide a more generous tax break this […]
IRS Provides Roadmap on How to Value a Private Business
Revenue Ruling 59-60 is a landmark piece of IRS guidance that outlines the factors to consider when estimating the fair market value of a […]
