tax
If your business is considering replacing or upgrading its vehicles, doing so before year end may help you take advantage of currently available tax benefits. In some cases, you may…
If your small business accepts, uses or invests in Bitcoin, Ethereum or other forms of cryptocurrency, accurate reporting and detailed records are critical for federal tax purposes. The IRS continues…
If you own a closely held C corporation, you might be looking for ways to withdraw cash from your business. Paying yourself a dividend can be a straightforward option, but…
To attract and retain skilled workers, your small business needs to offer more than competitive pay. Your benefits package matters, too — and benefits with favorable tax treatment can be…
Many small businesses start out as sole proprietorships. This structure is simple and inexpensive to establish and maintain, and it gives the owner direct access to profits without having to…
Businesses in economically distressed communities often have difficulty obtaining capital for expansion, equipment, facilities and other investments. The New Markets Tax Credit (NMTC) encourages private investment in these underserved areas…
Tax-efficient wealth transfer using FLPs A family limited partnership (FLP) can be an effective estate and income tax-planning tool when properly structured. By forming an FLP to hold a family…
For families focused on long-term wealth preservation, dynasty trusts can be a powerful planning tool. When properly structured, these trusts can protect wealth and help reduce exposure to federal gift,…
Becoming a new parent is life-changing in many ways, and your tax situation is no exception. While sleepless nights and new routines often take center stage, there are tax breaks…
It’s common for related companies (e.g., brother-sister or parent-subsidiary) to lend money to one another, particularly when one needs financial support. To ensure the transaction is treated as a loan…
Tax problems can happen to even the most organized small business owners. A cash flow crunch, an unexpected tax notice, a missed filing deadline or a payroll tax oversight can…
Start-ups must choose a legal entity for their business activities. The type of entity you select affects how the business is taxed and who may be held personally liable for…
Do you operate a side gig in addition to your regular day job? Whether you’ve turned a love for crafting into an online store or you play the guitar at…
If you’re a real estate developer or a small business owner who owns commercial real estate, you might be thinking about selling a property. If it has appreciated significantly, a…
If you’re self-employed, you probably have questions about deducting business expenses on your federal income tax return. Here’s a quick overview of the filing requirements for sole proprietors and independent…