How to treat your business website costs for tax purposes
These days, most businesses need a website to remain competitive. It’s an easy decision to set one up and maintain it. But determining...
03 October, 2019
Blog
5 ways to withdraw cash from your corporation while avoiding dividend treatment
Do you want to withdraw cash from your closely held corporation at a low tax cost? The easiest way is to distribute cash...
15 September, 2019
Do you need to file gift tax returns?
As the combined gift and estate tax exemption continues to increase, fewer families will be subject to federal gift taxes. If a person’s...
12 September, 2019
Charitable IRA rollover eases tax pain of RMDs
One downside of contributing to a traditional IRA is that, once you reach age 70½, you must begin taking required minimum distributions (RMDs)...
12 September, 2019
Kiddie tax: New hazards, new opportunities
Despite its name, the “kiddie tax” is far from child’s play. And a change made by the Tax Cuts and Jobs Act (TCJA)...
12 September, 2019
Taxable vs. tax-advantaged: Where to hold investments
When investing for retirement or other long-term goals, people usually prefer tax-advantaged accounts, such as IRAs, 401(k)s or 403(b)s. Certain assets are well...
12 September, 2019
Business Repairs vs. Improvements
Business owners may think that, if they repair a piece of tangible property, they’ll qualify for an immediate tax deduction. But the IRS...
12 September, 2019
Meal, travel and entertainment expenses: Know what’s deductible and properly substantiate
When owners, managers and salespeople attend trade shows, call on customers or evaluate suppliers, they may incur meal, travel and entertainment expenses. Many...
12 September, 2019
Business Loss Deductions
Excess business loss rule may be unfavorable to you Sole proprietorships and pass-through entity structures, which include partnerships, S corporations and certain limited liability...
12 September, 2019
The TCJA limit on interest expense deductions
Does it affect your business? The Tax Cuts and Jobs Act (TCJA) introduced a variety of tax benefits for businesses. Among other things, it...
11 September, 2019