Craft Partnership Agreements and LLC Operating Agreements with Precision
Partnerships are often used for business and investment activities. So are multi-member LLCs that are treated as partnerships for tax purposes. A major […]
Cash or Accrual Accounting: What’s Best for Tax Purposes?
Your businesses may have a choice between using the cash or accrual method of accounting for tax purposes. The cash method often provides […]
Understanding Taxes on Real Estate Gains
Let’s say you own real estate that has been held for more than one year and is sold for a taxable gain. Perhaps […]
IRS Shares Additional Warning Signs of Incorrect Claims for ERTC
As appearing in IR-2024-198
Businesses urged to proactively resolve erroneous claims to avoid penalties, interest, audits
As the […]
IRS Resumes Processing of ERTC Claims
As appearing in IR-2024-203
Agency accelerates work on complex credit as more payments move into processing. Vigilance, monitoring continues on potentially improper claims
The Possible Tax Landscape for Businesses in the Future
Get ready: The upcoming presidential and congressional elections may significantly alter the tax landscape for businesses in the United States. The reason has to do with a […]
Business Website Expenses: How They’re Handled for Tax Purposes
Most businesses have websites today. Despite their widespread use, the IRS hasn’t issued formal guidance on when website costs can be deducted.
But there […]
Closing a Business Involves a Number of Tax Responsibilities
While many facets of the economy have improved this year, the rising cost of living and other economic factors have caused many businesses to close their doors. […]
IRS Reminds Car Dealers to be Aware of Phishing Scams
(As appearing in IR 2024-186)
IRS reminds car dealers and sellers to be […]
If Your Business Has Co-Owners, Your Probably Need a Buy-Sell Agreement
Are you buying a business that will have one or more co-owners? Or do you already own one fitting that description? If so, consider installing a buy-sell […]
