Let’s say you plan to use a C corporation to operate a newly acquired business or you have an existing C corporation that needs more capital. You should know […]

There are several financial and legal implications when adding a new partner to a partnership. Here’s an example to illustrate: You and your partners are planning to […]

It’s not unusual for a partner to incur expenses related to the partnership’s business. This is especially likely to occur in service partnerships such as an architecture […]

Businesses usually want to delay recognition of taxable income into future years and accelerate deductions into the current year. But when is it wise to do the […]

If your business doesn’t already have a retirement plan, it might be a good time to take the plunge. Current retirement plan rules allow for significant tax-deductible […]

If you operate a business, or you’re starting a new one, you know records of income and expenses need to be kept. Specifically, you should carefully record […]

The IRS’ recent declaration of a rigorous enforcement against the utilization of corporate jets has attracted widespread attention, as the […]

As reported in IR-2024-46

Using Inflation Reduction Act funding and as part of ongoing efforts […]

Here are some of the key tax-related deadlines that apply to businesses and other employers during the second quarter of 2024. Keep in mind that this list […]

Your business should generally maximize current year depreciation write-offs for newly acquired assets. Two federal tax breaks can be a big help in achieving this goal: first-year […]