One, Big, Beautiful Bill – What Business Owners Should Know About the Latest Proposals
A bill in Congress — dubbed The One, Big, Beautiful Bill — could significantly reshape several federal business tax breaks. While the proposed […]
Can You Turn Business Losses into Tax Relief?
Even well-run companies experience down years. The federal tax code may allow a bright strategy to lighten the impact. Certain losses, within limits, may be used to […]
Corporate Business Owners: Is Your Salary Reasonable in the Eyes of the IRS?
Determining “reasonable compensation” is a critical issue for owners of C corporations and S corporations. If the IRS believes an owner’s compensation is unreasonably high or low, it may […]
Arizona Auto Dealer Faces $118k in Penalties for Form 8300 Reporting Failures
In a recent ruling, the […]
An Education Plan Can Pay Off for Your Employees — And Your Business
Your business can set up an educational assistance plan that can give each eligible employee up to $5,250 in annual federal-income-tax-free and federal-payroll-tax-free benefits. These tax-favored plans […]
Explore SEP and SIMPLE Retirement Plans for Your Small Business
Suppose you’re thinking about setting up a retirement plan for yourself and your employees. However, you’re concerned about the financial commitment and administrative […]
Turn a Summer Job into Tax Savings: Hire Your Child and Reap the Rewards
With summer fast approaching, you might be considering hiring young people at your small business. If your children are also looking to earn some extra money, why […]
Small Business Alert: Watch Out for the 100% Penalty
Some tax sins are much worse than others. An example is failing to pay over federal income and employment taxes that have been withheld from […]
Are You a Tax-Favored Real Estate Professional?
For federal income tax purposes, the general rule is that rental real estate losses are passive activity losses (PALs). An individual taxpayer can generally deduct PALs only […]
6 Essential Tips for Small Business Payroll Tax Compliance
Staying compliant with payroll tax laws is crucial for small businesses. Mistakes can lead to fines, strained employee relationships and even legal consequences. Below are six quick […]
