tax
The consequences of misclassifying workers can be costly. If you misclassify an employee as an independent contractor, for example, you may be liable for back taxes (including the employee’s shares…
Are you buying a business that will have one or more co-owners? Or do you already own one fitting that description? If so, consider installing a buy-sell agreement. A well-drafted…
If you’re selling property used in your trade or business, you should understand the tax implications. There are many complex rules that can potentially apply. To simplify this discussion, let’s…
If you own a closely held corporation, you can borrow funds from your business at rates that are lower than those charged by a bank. But it’s important to avoid…
Here are some of the key tax-related deadlines affecting businesses and other employers during the third quarter of 2024. Keep in mind that this list isn’t all-inclusive, so there may…
With school out, you might be hiring your child to work at your company. In addition to giving your son or daughter some business knowledge, you and your child could…
The Tax Cuts and Jobs Act (TCJA) was signed into law in 2017 and generally took effect at the start of 2018. It brought sweeping changes to various aspects of…
The next quarterly estimated tax payment deadline is June 17 for individuals and businesses, so it’s a good time to review the rules for computing corporate federal estimated payments. You want…
The IRS recently released guidance providing the 2025 inflation-adjusted amounts for Health Savings Accounts (HSAs). These amounts are adjusted each year, based on inflation, and the adjustments are announced earlier…
Choosing the right business entity has many implications, including the amount of your tax bill. The most common business structures are sole proprietorships, partnerships, limited liability companies, C corporations and S corporations.…
Since the passing of the TCJA in 2018, most states have given pass-through entities (PTEs) the option to pay the state income tax at the entity level instead of at…
Accurate bookkeeping is essential to operating a successful small business. The problems created by inadequate bookkeeping practices can have significant, long-lasting consequences. Here are four common pitfalls — and how…
Interested in LTC insurance? Consider a tax-free exchange Long-term care (LTC) insurance can help cover the expenses if you or a loved one requires an extended stay at a nursing…
After experiencing a downturn in 2023, merger and acquisition activity in several sectors is rebounding in 2024. If you’re buying a business, you want the best results possible after taxes.…
The tax code allows you to claim a deduction for business debts that have become worthless. But qualifying for the deduction may be more complicated than you think. In a…