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Tax Advice Small Business

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For Small Businesses: Thinking About Switching From C to S Corp?

November 3, 2019

These are several factors to consider when a business converts from C corporation to S corporation status. Here is what you should understand.
Tax Advice: Selling Securities by Year End? Avoid the Wash Sale Rule

October 24, 2019

Have you cashed in some investment gains in 2019? You may be looking for unrealized losses in your portfolio so you can sell those investments to offset your gains before year
end. This can reduce your tax liability. But don’t run afoul of this rule.
Tax Advice: Beware Tax-Related Scams

October 22, 2019

Have you received a text, letter, email or phone call purporting to be from the IRS? Don’t become the victim of a scam. Here’s what you should look out for.
For Small Businesses: Accelerate Depreciation Deductions with a Cost Segregation Study

October 22, 2019

Cost segregation studies can yield substantial benefits, but they’re not right for every business. Learn more about how this strategy can help accelerate depreciation deductions
on the building that houses your operation.
For Small Businesses: Understanding Unemployment Tax Costs

October 22, 2019

Unemployment taxes can cost your business a bundle. That is especially true if a lot of former employees file unemployment claims against your business. Fortunately, you may be
able to reduce your unemployment tax bill.
Infographic: What Does FDIC Deposit Insurance Cover?

October 22, 2019

Fun fact: Exactly what does FDIC deposit insurance cover?
Tax Advice: Use a Coverdell ESA to Help Pay School Costs

October 22, 2019

Are you looking for ways to save for your child’s or grandchild’s education? Or do you want to save for private elementary and secondary school? A Coverdell Education Savings
Account may help.
For Small Businesses: On Setting Up an HSA

October 22, 2019

Health Savings Accounts offer a flexible, tax-advantaged option for providing health care coverage. Employers and employees can benefit. Here’s a look at what an HSA could mean
for your business.
Tax Advice: Take Advantage of the Gift Tax Exclusion Rules

October 7, 2019

With the annual federal gift tax exclusion, you can transfer substantial amounts free of gift taxes to your children and others. Here are the basic rules.
Infographic: Capital Gains Tax Can Take a Bite Out of Your Investments

October 6, 2019

Learn more about capital gains rates — "the long and short of it."
Tax Advice: When is Tax Due on Series EE Savings Bonds?

October 6, 2019

If you own Series EE bonds, check the issue dates on your bonds. If they’re no longer earning interest, you probably want to redeem them. Read this article to learn more on that
and how the interest on the bonds is taxed.
For Small Businesses: Be Prepared for an IRS Audit

October 2, 2019

As a business owner, are you worried about being audited by the IRS? Here’s what you need to know to be prepared for an audit and respond effectively.
For Small Businesses: How to Your Treat Website Costs for Tax Purposes

September 30, 2019

Nearly every business has a website and the IRS hasn’t yet released official guidance on the tax treatment of website development costs. However, you can apply existing guidance
on other costs. Here’s the story.
For Small Businesses: 5 Ways to Withdraw & Avoid Dividend Treatment

September 30, 2019

Dividends paid out by corporations are taxable to shareholders and can’t be deducted by the corporation. But there may be ways to get cash out of your corporation without dividend
treatment. Here are five ideas.
Tax Advice: On Divorce-Related Tax Issues

September 18, 2019

Getting a divorce can be a painful process. You don’t want to make it worse by making decisions that will cost you more in taxes. Here are four issues to consider if you’re in the
process of getting a divorce.
For Small Businesses: Key 2019 Q4 Tax Deadlines

September 10, 2019

For businesses, fall means it’s time to begin year-end tax planning. It’s also time to think about the fourth quarter 2019 filing deadlines.
For Small Businesses: On Picking the Right Retirement Security

September 10, 2019

There are many retirement plan options for small business owners and their employees. Here’s a quick rundown of three of them.
Tax Advice: Must You Make a Payment on September 16?

September 10, 2019

The third estimated tax payment deadline is coming up. Here are the details of when it is and whether you’re required to make a payment.
Tax Advice: Expenses Teachers Can/Can't Deduct on Their Taxes

August 28, 2019

Are you an educator who's back to school and spending money out of your pocket to teach your students? Read on: you may be eligible for a special tax break!
For Small Businesses: The Tax Implications of a Company Car

August 28, 2019

For many business owners, a company car is a sign they’ve achieved success. Here are the basic tax breaks and tax implications involved in this fringe benefit.
Tax Advice: Taking Distributions from Your Traditional IRA

August 26, 2019

Prudently planning how to take money out of your traditional IRA can mean more money for you and your heirs. Here are three areas to understand in order to maximize your
retirement savings.
For Small Businesses: Should You Elect S Corp Status?

August 20, 2019

One of the most popular business structures is the S corporation because of its liability protection and tax benefits. Could it work for you?
Infographic: Read Before You Try to Sell Your Business

August 20, 2019

Even the most successful entrepreneurs can make deal-breaking mistakes when it's time to sell their companies. To realize a fair price and terms, don't do these five things!
For Small Businesses: On the Tax Consequences of Virtual Currency

August 15, 2019

Is your small business accepting or using bitcoin or other virtual currencies yet? Familiarize yourself with the tax consequences, because the IRS is targeting users who fail to
report and pay tax on transactions.
Tax Advice: "Innocent Spouses" May Get Relief from Tax Liability

August 15, 2019

If you’re married and file a joint return, what happens if your spouse doesn’t disclose all of his or her income or otherwise doesn’t pay the correct tax owed? You’re generally
liable for the full amount but there may be “innocent spouse” relief.

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