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Tax Advice Small Business

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For Small Businesses: When Are LLC Members Subject to Self-Employment Tax?

February 19, 2019

LLC members may be subject to back taxes and penalties if they underpay self-employment tax. Find out if you could be at risk.
Tax Advice: Don't Wait to File Your '18 Income Tax Return

February 10, 2019

In a tax identity theft scheme, a thief uses your personal information to file a fraudulent tax return early in the filing season and claim a bogus refund. Here’s how to protect
yourself.
For Small Businesses: Fundamental Tax Truths for C Corporations

February 4, 2019

Most C corporations are seeing a significant tax cut under the Tax Cuts and Jobs Act. But there are still certain tax vulnerabilities for these entities that haven’t changed much.
Tax Advice: On Investment Interest Expense Deduction

January 30, 2019

Can the investment interest expense deduction save you tax on your 2018 return? You generally must pass three hurdles to benefit.
For Small Businesses: On Depreciation-Related Breaks on Your Real Estate

January 29, 2019

Enhanced depreciation-related tax breaks for certain business real estate investments, such as qualified improvement property, may offer substantial savings when you file your 2018 tax return. Learn more.
Tax Advice: Still Time to Get Substantiation for '18 Donations

January 29, 2019

Don’t take the substantiation requirements for charitable donation deductions lightly. If you made a gift last year and haven’t received a written acknowledgment from the charity,
read this before claiming a deduction on your 2018 income tax return.
For Small Businesses: Many Tax-Related Limits Increase for 2019

January 29, 2019

Do you know what the Section 179 expensing limit is for 2019? Or how much you can allow your employees to contribute to their 401(k) plans this year? Find out these amounts and
other annual inflation adjustments affecting businesses.
Infographic: Paper or Plastic?

January 26, 2019

Fun fact: What percentage of Americans used only credit and debit cards in the last week?
For Small Businesses: On 2018 Bonuses & Deducting Them on 2018 Returns

January 25, 2019

If you’re like many business owners, you pay out annual bonuses to attract, retain and motivate employees. Depending on the circumstances, paying bonuses in early 2019 might
reduce your 2018 tax liability.
Tax Advice: What Will Your Marginal Income Tax Rate Be?

January 15, 2019

The TCJA made changes to some of the middle income tax brackets that may negatively affect unmarried taxpayers and positively affect married taxpayers. Find out the potential
impact on your rate for 2018 and 2019.
For Small Businesses: Higher Mileage Rate May Mean Larger Deductions

January 15, 2019

Businesses generally can determine their vehicle expense deductions either by calculating the actual expenses or using the IRS’s standard mileage rate, which has increased for
2019. Here’s what you need to know.
Tax Advice: You May Be Able to Save More for Retirement in '19

December 27, 2018

How much you can contribute to your retirement plans each year depends in part on the annual limits. Sometimes these go up from one year to the next, and sometimes they don’t.
Learn what’s changed and what hasn’t for 2019.
For Small Businesses: Why an Exit Strategy Should Be Part of Your Tax Planning

December 21, 2018

Your exit strategy may not be the first thing that comes to mind when thinking about tax planning for your business. But it should be a key element. Find out why.
Tax Advice: Act Soon to Save 2018 Taxes on Your Investments

December 21, 2018

While time, not timing, is generally the key to long-term investment success, taking timely action before year end can help save taxes on your investments. Here’s how.
For Small Businesses: 6 Last-Minute Tax Moves

December 18, 2018

Is your business taking every possible step to reduce its 2018 income tax liability? There’s still time to act.
Infographic: Conducting a Year-End Risk Assessment? Try This

December 18, 2018

If you're performing a year-end risk analysis, a SWOT (strengths, weaknesses, opportunities, threats) model can come in handy.
Tax Advice: Check Deductibility Before Making Year-End Charitable Gifts

December 18, 2018

Not as many people will benefit from the charitable deduction on their 2018 income tax returns. Find out why donations may no longer save you tax and what you can do to help
ensure deductibility.
For Small Businesses: On PTO Contribution Arrangements

December 18, 2018

Paid time off (PTO) contribution arrangements turn vacation time into pretax retirement plan contributions. Here’s what to consider when deciding if one is right for your
business.
Tax Advice: Whether Prepaying Property Taxes Still Makes Sense

December 3, 2018

You may be getting ready to prepay your property taxes like you’ve done every year to boost your itemized deductions. But this year, review your situation first to be sure this
strategy will provide a tax benefit. The TCJA made two changes that affect it.
For Small Businesses: Deadlines on the 2019 Q1 Tax Calendar

December 3, 2018

A lot has changed for businesses when it comes to filing their 2018 income tax returns. But one thing that hasn’t changed is the multitude of tax-related deadlines businesses face
in the first quarter of the year.
Tax Advice: Handle Mutual Funds With Care at Year's End

November 21, 2018

Investment decisions shouldn’t be driven by tax considerations alone, but taxes are still an important factor to consider, especially when it comes to mutual funds in taxable
accounts. Consider these year-end tips.
Tax Advice: On Catch-Up Retirement Plan Contributions Post-TCJA

November 21, 2018

The income reduction from making catch-up contributions to your retirement plan might be especially beneficial in 2018 if you had significant itemized deductions in the past that
now will be reduced or eliminated by the TCJA. Here’s what you need to know.
For Small Businesses: Tax Reform Expands Availability of Cash Accounting

November 20, 2018

Usually, if a business’s receivables exceed its payables, the cash method of accounting will allow more income to be deferred for federal tax purposes than will the accrual
method. Is your business eligible for the cash method?
For Small Businesses: You Can Still Set Up a Retirement Plan for '18

November 12, 2018

Setting up a retirement plan provides small business owners with many tax and nontax benefits. But time is running out to set one up for 2018. Find out more.
For Small Businesses: Buy Assets Before Year End to Reduce '18 Tax Liability

November 6, 2018

Investing in business assets is a traditional and powerful year-end tax planning strategy, and it might make even more sense in 2018. Here’s why.

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