tax
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…
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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…
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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…
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The federal Employee Retention Credit (ERC) was created by the IRS during the COVID-19 pandemic. It seemed to offer a lifeline to many nonprofits struggling to keep employees on board…
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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…
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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…
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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…
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A key reason for creating an estate plan is gaining the peace of mind that your family will be taken care of after your death. The last thing you want…
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Navigating business-vehicle expense deductions can be tricky If you operate a business, you can generally deduct expenses for the business-related use of your personal vehicle. There are two ways to…
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For investors, a popular year-end tax planning strategy is to “harvest” investment losses. This strategy allows you to offset investment gains plus up to $3,000 in wages or other ordinary…
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