How to Minimize the S Corporation LIFO Recapture Tax
If you’re considering converting your C corporation to an S corporation, be aware that there may be tax implications if you’ve been using the last in, first […]
2023 Q1 Tax Deadlines for Businesses and Other Employees
Here are some of the key tax-related deadlines affecting businesses and other employers during the first quarter of 2023. Keep in mind that this list isn’t all-inclusive, […]
Do you Qualify for the QBI Deduction and What Can you Do to Help Qualify?
If you own a business, you may wonder if you’re eligible to take the qualified business income (QBI) deduction. Sometimes this is referred to as the pass-through […]
Worker Classification 101: Employee or Independent Contractor
As posted to IRS.gov as Tax Tip 2022-117 on 8/2/2022
A business might pay an […]
Choosing a Business Entity? Here are the Pros and Cons of a C Corporation
If you’re launching a new business venture, you’re probably wondering which form of business is most suitable. Here is a summary of the major advantages and disadvantages […]
Intangible Assets: How Must the Costs Incurred by Capitalized?
These days, most businesses have some intangible assets. The tax treatment of these assets can be complex.
What […]
Is Your Business Closing? Here are your Final Tax Responsibilities
Businesses shut down for many reasons. Some of the reasons that businesses shutter their doors:
- An owner retirement,
Computer Software Costs: How Does Your Business Deduct Them?
These days, most businesses buy or lease computer software to use in their operations. Or perhaps your business develops computer software to use in your products or […]
2023 Limits for Businesses that Have HSAs
No one needs to remind business owners that the cost of employee health care benefits keeps going up. One way to provide some of these benefits is […]
Inflation Means You and Your Employees Can Save More for Retirement in 2023
How much can you and your employees contribute to your 401(k)s next year — or other retirement plans? In Notice 2022-55, the IRS recently announced cost-of-living adjustments […]
