The Trust Fund Recovery Penalty: Who Can it be Personally Assessed Against?
If you own or manage a business with employees, there’s a harsh tax penalty that you could be at risk for paying personally. The Trust Fund Recovery […]
2023 Q3 Tax Calendar: Key Deadlines for Businesses and Other Employers
Here are some of the key tax-related deadlines affecting businesses and other employers during the third quarter of 2023. Keep in mind that this list isn’t all-inclusive, […]
Advantages and Disadvantages of Claiming Big First-Year Real Estate Depreciation Deductions
Your business may be able to claim big first-year depreciation tax deductions for eligible real estate expenditures rather than depreciate them over several […]
Traveling for Business This Summer? Here’s What You Can Deduct
If you and your employees are traveling for business this summer, there are a number of considerations to keep in mind. Under tax […]
Keep These DOs and DON’Ts in Mind When Deducting Business Meal and Vehicle Expenses
If you’re claiming deductions for business meals or auto expenses, expect the IRS to closely review them. In some cases, taxpayers have incomplete […]
The IRS Has Just Announced 2024 Amounts for Health Savings Accounts
The IRS recently released guidance providing the 2024 inflation-adjusted amounts for Health Savings Accounts (HSAs).
If You’re Hiring Independent Contractors, Make Sure They’re Properly Handled
Many businesses use independent contractors to help keep their costs down — especially in these times of staff shortages and inflationary pressures. If […]
Use the Tax Code to Make Business Losses Less Painful
Whether you’re operating a new company or an established business, losses can happen. The federal tax code may help soften the blow by allowing businesses to apply […]
Education Benefits Help Attract, Retain and Motivate Your Employees
One popular fringe benefit is an education assistance program that allows employees to continue learning and perhaps earn a degree with financial assistance from their employers. One […]
4 Ways Corporate Business Owners Can Help Ensure Their Compensation is “Reasonable”
If you’re the owner of an incorporated business, you know there’s a tax advantage to taking money out of a C corporation as compensation rather than as […]
