Possible Tax Consequences of Guaranteeing a Loan to your Corporation
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 […]
Large Cash Transactions with your Business must be Reported to the IRS
If your business receives large amounts of cash or cash equivalents, you may be required to report these transactions to the IRS.
Is an LLC the Right Choice for Your Small Business?
Perhaps you operate your small business as a sole proprietorship and want to form a limited liability company (LLC) to protect your assets. Or […]
The Deductibility of Corporate Expenses Covered by Officers or Shareholders
Do you play a major role in a closely held corporation and sometimes spend money on corporate expenses personally? These costs may wind up […]
California AB-150 Provides SALT Cap Work-Around
While Congress develops legislation that would eliminate, and/or otherwise mitigate, the current TCJA implemented state and local tax (SALT) limit on […]
How New Business Start-up Expenses are Handled on your Tax Return
Despite the COVID-19 pandemic, government officials are seeing a large increase in the number of new businesses being launched. From June 2020 through June 2021, the U.S. […]
Who in your Business Can Be Hit with the “Trust Fund Recovery Penalty”?
There’s a harsh tax penalty that you could be at risk for paying personally if you own or manage a business with employees. It’s […]
10 Facts About the Pass-Through Deduction for Qualified Business Income
Are you eligible to take the deduction for qualified business income (QBI)? Here are 10 facts about this valuable tax break, referred to as the pass-through deduction, […]
Traveling for Business Again? What can you Deduct?
As we continue to come out of the COVID-19 pandemic, you may be traveling for business again. Under tax law, there are a number […]
Q3 2021 Tax Deadlines for Businesses
Here are some of the key tax-related deadlines affecting businesses and other employers during the third quarter of 2021. Keep in mind that this list isn’t all-inclusive, […]
