Why What an S Corp Shareholder Receives and Reports is Different
You may have wondered why, in a given year, you may be taxed on more S corporation income than was distributed to you from the S corporation in which […]
SB 113 Provides Additional Relief from SALT Deduction Limits
Back in 2017, the Tax Cuts and Jobs Act was signed into law which instituted a cap on the amount of state and local taxes (SALT) that individuals […]
Can You Deduct the Costs of a Spouse on a Business Trip?
If you own your own company and travel for business, you may wonder whether you can deduct the costs of having your spouse accompany […]
Withdrawals from your Closely-Held Corporation that Aren’t Taxed as Dividends
Do you want to withdraw cash from your closely held corporation at a minimum tax cost? The simplest way is to distribute cash as […]
Tax Aspects of Operating Your Business as a Sole Proprietor
If you’re in business for yourself as a sole proprietor, or you’re planning to start a business, you need to know about the tax […]
How Entrepreneurs Expenses are Claimed on Tax Returns
While some businesses have closed since the start of the COVID-19 crisis, many new ventures have launched. Entrepreneurs have cited a number of reasons why they decided […]
Numerous Tax Limits Affecting Businesses Have Increased for 2022
Many tax limits that affect businesses are annually indexed for inflation, and a number of them have increased for 2022. Here’s a rundown of those that may […]
Businesses with Employees who Receive Tips may be Eligible for a Tax Credit
If you’re an employer with a business where tipping is customary for providing food and beverages, you may qualify for a federal tax credit […]
Defer Tax with a Like-Kind Exchange
Do you want to sell commercial or investment real estate that has appreciated significantly? One way to defer a tax bill on the gain […]
2022 Business Mileage Rate
After two years of no increases, the optional standard mileage rate used to calculate the deductible cost of operating an automobile for business will […]
