tax

New and used “heavy” SUVs, pickups, and vans placed in service in 2025 are potentially eligible for big first-year depreciation write-offs. One requirement is you must use the vehicle more…

At one time, businesses were able to claim a tax deduction for most business-related interest expenses. But that changed with the enactment of the Tax Cuts and Jobs Act (TCJA).…

Here are the current statutory due dates for tax reporting for the 2024 tax year. For calendar year tax returns reporting 2024 information that are due in 2025, the following…

When selling business assets, understanding the tax implications is crucial. One area to focus on is Section 1231 of the Internal Revenue Code, which governs the treatment of gains and…

When deciding on the best structure for your business, one option to consider is a C corporation. This entity offers several advantages and disadvantages that may significantly affect your business operations…

Intangible assets, such as patents, trademarks, copyrights and goodwill, play a crucial role in today’s businesses. The tax treatment of these assets can be complex, but businesses need to understand…

Understanding how to deduct transportation costs could significantly reduce the tax burden on your small business. You and your employees likely incur various local transportation expenses each year, and they…

As a small business owner, managing health care costs for yourself and your employees can be challenging. One effective tool to consider adding is a Health Savings Account (HSA). HSAs…