If you use an automobile in your trade or business, you may wonder how depreciation tax deductions are determined. The rules are complicated, and special limitations that […]

California Assembly Bill No. 50 (AB-50) established the California Main Street Small Business Tax Credit II, which will provide COVID-19 financial relief to qualified […]

A business may be able to claim a federal income tax deduction for a theft loss. But does embezzlement count as theft? In most cases it does […]

The week of September 13-17 has been declared National Small Business Week by the Small Business Administration. To commemorate the week, here are three […]

In order to prepare for a business audit, an IRS examiner generally does research about the specific industry and issues on the taxpayer’s return. Examiners may use IRS “Audit […]

If you’re a business owner and you’re getting a divorce, tax issues can complicate matters. Your business ownership interest is one of your biggest personal assets and […]

What if you decide to, or are asked to, guarantee a loan to your corporation? Before agreeing to act as a guarantor, endorser or indemnitor of a […]

If your business receives large amounts of cash or cash equivalents, you may be required to report these transactions to the IRS.

Perhaps you operate your small business as a sole proprietorship and want to form a limited liability company (LLC) to protect your assets. Or […]

Do you play a major role in a closely held corporation and sometimes spend money on corporate expenses personally? These costs may wind up […]