Avoiding the Trust Fund Recovery Penalty
If you own or manage a business with employees, you may be at risk for a severe tax penalty. It’s called the “
1099-NEC Debuts in 2020
There’s a new IRS form for business taxpayers that pay or receive nonemployee compensation.
How to Treat Start-up Expenses When Launching a Busines
While the COVID-19 crisis has devastated many existing businesses, the pandemic has also created opportunities for entrepreneurs to launch new businesses. For example, some businesses are being […]
Key to Trouble-Free IRS Audits
If you operate a small business, or you’re starting a new one, you probably know you need to keep records of your income and […]
Business Meal Deductions: The Current Rules Amid Proposed Changes
Restaurants and entertainment venues have been hard hit by the novel coronavirus (COVID-19) pandemic. One of the tax breaks that President Trump has proposed to help them is an […]
Ways to Chip Away at Your 2019 Business Tax Bill
The extended federal income tax deadline is coming up fast. As you know, the IRS postponed until July 15 the payment and filing deadlines […]
Business Charitable Contribution Rule Changes Under the CARES Act
In light of the novel coronavirus (COVID-19) pandemic, many businesses are interested in donating to charity. In order to incentivize charitable giving, […]
2021 HSA Inflation Adjusted Amounts
The IRS recently released the 2021 HSA inflation adjusted amounts.
Health Savings Accounts (HSA) basics
CARES Act Liberalizes NOLs
The Coronavirus Aid, Relief, and Economic Security (CARES) Act eliminates some of the tax-revenue-generating provisions included in a previous tax law. Here’s a look at how the […]
Are Your Independent Contractors Properly Classified?
As a result of the coronavirus (COVID-19) crisis, your business may be using independent contractors to keep costs low. That said, are your independent contractors properly classified for federal […]
