Congratulations if you filed your 2020 tax return by the May 17 deadline. But you may still have questions. We’re often asked about refund status, record retention and amended tax returns. Here are some answers.
There’s a great deal of interest in alternative energy technologies today. If your business invests in certain equipment or property, what are the federal tax benefits? This article explains.
The IRS imposes penalties for failing to pay taxes due and failing to file required tax returns. With the May 17 filing deadline coming up, it’s a good time to review the amount of the penalties.
Some employers offer educational assistance plans as a recruitment and retention tool. Here are the rules to help ensure the fringe benefit is tax free to employees.
Whether your employees are working from home, in office or on the move, you need to protect network connections from illicit access. Check out this infographic of quick things to consider.
Small business owners are sometimes reluctant to set up retirement plans because of the administrative burdens. Here are two options to consider that have less stringent requirements than traditional qualified retirement plans.
To keep executive compensation deductible, C corporation owners want to ensure it’s reasonable. Otherwise, it could be deemed a dividend. Here’s why it matters.
Many tax changes have been enacted recently to help mitigate the financial damage caused by COVID-19. They may affect you if you collected unemployment last year or if you buy health insurance through a “Marketplace.”
Life insurance benefits can help loved ones after your death. But you may want to keep proceeds from a policy out of your taxable estate. Here are some considerations.
The nice weather and the general downturn in COVID-19 cases has spurred some business owners to think about buying a car this spring. Here’s an option that may save on taxes.
For tax purposes, there are many ways to conduct a business. For example, you may operate as an S corporation or a partnership. But many new ventures start out as sole proprietorships. Here are some tax considerations involved in operating with that entity.
The Work Opportunity Tax credit was set to expire on Dec. 31, 2020. But a law passed late last year extends it through Dec. 31, 2025. Here’s how employers can benefit if they’re hiring.
Saving now for retirement is one of the best moves you can make to help ensure financial security. If you’re eligible, you still have time to contribute to an IRA or SEP and save on your 2020 tax return.
Business owners may be able to save tax with home office deductions. If you’re working from home (like lots of people these days), you may qualify. Here’s a rundown of the rules.