Category: Business Tax

Here’s an interesting option if your small company or start-up business is planning to claim the research tax credit. Subject to limits, you can elect to apply all or some of any research tax credits that you earn against your payroll taxes instead of your income tax. This...

The IRS recently released guidance providing the 2023 inflation-adjusted amounts for Health Savings Accounts (HSAs). High inflation rates will result in next year’s amounts being increased more than they have been in recent years....

The IRS has begun mailing notices to businesses, financial institutions and other payers that filed certain returns with information that doesn’t match the agency’s records. These CP2100 and CP2100A notices are sent by the IRS twice a year to payers who filed information...

There are many rules that can potentially apply to the sale of business property. Thus, to simplify discussion, let’s assume that the property you want to sell is land or depreciable property used in your business, and has been held by you for more than a year. (There are ...

Operating as an S corporation may help reduce federal employment taxes for small businesses in the right circumstances. Although S corporations may provide tax advantages over C corporations, there are some potentially costly tax issues that you should assess before making a...

Here are some of the key tax-related deadlines that apply to businesses and other employers during the second quarter of 2022. Keep in mind that this list isn’t all-inclusive, so there may be additional deadlines that apply to you. Contact us to ensure you’re meeting all...

Typically, businesses want to delay recognition of taxable income into future years and accelerate deductions into the current year. But when is it prudent to do the opposite? And why would you want to?...

Just a reminder that the traditional tax filing due dates listed below are not being adjusted this year by the government. Due to ever changing tax laws, related tax forms and software updates, coupled with the unknown of whether or not various states will conform with the F...

The TCJA permanently eliminated deductions for most business-related entertainment expenses paid or incurred after 2017. But it didn’t specifically address the meals, beverages and snacks that often accompany entertainment activities. Then the CAA temporarily increased the...

As the recovery from the COVID-19 crisis takes hold and the economy and life begin to return to normal, now is an ideal time to focus on tax planning for the remainder of 2021. ...

The IRS released its annual “Dirty Dozen” tax scams for 2021 on June 28th. One of the key provisions of this announcement is the IRS this year made its Identity Protection PIN program available to all taxpayers. ...

If your business sponsors a 401(k) plan, you might someday consider adding designated Roth contributions. Here are some factors to explore when deciding whether such a feature would make sense for your company and its employees....