tax benefits
In some cases, homeowners decide to move to new residences, but keep their present homes and rent them out. If you’re thinking of doing this, you’re probably aware of the…
If you’re a parent with a college-bound child, you may be concerned about being able to fund future tuition and other higher education costs. You want to take maximum advantage…
If you’re a business owner and you hire your child this summer, you can obtain tax breaks and other nontax benefits. The kids can gain on-the-job experience, spend time with…
The COVID-19 pandemic has led to a surge in unemployment. And while people who have been furloughed or lost their jobs are among the hardest hit by the pandemic, those…
The best choice of entity can affect your business in several ways, including the amount of your tax bill. In some cases, businesses decide to switch from one entity type…
Differences Between Traditional and Roth IRAs The basic premise of a Traditional IRA is that it allows tax-deferred contributions. This means that if certain criteria are met, taxpayers may deduct…
The heightened fundraising needs many nonprofits are feeling right now make it important that potential donors understand the tax benefits they stand to reap. Here are some of the advantages…
Diligence required to avoid inadvertent termination and loss of tax benefits The S corporation continues to be a popular entity choice, combining the liability protection of a corporation with many…
“Small” is bigger than ever Small businesses enjoy several tax advantages that may allow them to reduce their tax bills, defer taxes and simplify the reporting process. Until recently, federal…
Sole proprietorships and pass-through entity structures, which include partnerships, S corporations and certain limited liability companies (LLCs), provide owners with some valuable tax benefits, such as avoidance of double taxation…
Companies that qualify as “small businesses” enjoy several tax benefits, including simplified tax reporting and the ability to defer taxes under certain circumstances. Your construction company’s eligibility for these advantages…
The Tax Cuts and Jobs Act doubled the generation-skipping transfer (GST) tax exemption to $10 million beginning last year. The exemption is adjusted annually for inflation. (For 2019, the exemption…
Insurance is a challenge for most construction businesses. You want to control your costs, but you may struggle to obtain affordable coverage of difficult-to-insure risks or fill “gaps” in your…
Exporters, does an IC-DISC still make sense? In recent years, the interest-charge domestic international sales corporation (IC-DISC) has been a popular tax-reduction tool for exporters. Without going into detail, one…