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 […]
In 2023, the Social Security Wage Base is Increasing
The Social Security Administration recently announced that the wage base for computing Social Security tax will increase to $160,200 for 2023 (up from $147,000 for 2022). Wages […]
Providing Fringe Benefits to Employees with No Tax Strings Attached
Businesses can provide benefits to employees that don’t cost them much or anything at all. However, in some cases, employees may have to pay tax on the […]
What Local Transportation Costs Can Your Business Deduct?
You and your small business are likely to incur a variety of local transportation costs each year. There are various tax implications for these expenses.
Worried About an IRS Audit? Prepare in Advance
IRS audit rates are historically low, according to a recent Government Accountability Office (GAO) report, but that’s little consolation if your return is among […]
