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Tax Advice Small Business

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For Small Businesses: Take a Closer Look at Home Office Deductions

August 1, 2019

If you run a business from your home or are otherwise self-employed and use part of your home for business purposes, the home office deduction may provide a valuable tax break.
Tax Advice: "Nanny Tax" Applies to More Than Just Nannies

July 27, 2019

In 2019, if you pay a household worker cash wages of $2,100, you must withhold and pay Social Security and Medicare taxes. Learn about this and other tax obligations for household
workers.
For Small Businesses: Utilize the Info the IRS Uses to Examine Tax Returns

July 22, 2019

Before conducting an audit, IRS examiners do their homework by reviewing “Audit Technique Guides.” Business owners and executives can easily read the same guides.
Tax Advice: Volunteering for Charity = Tax Break?

July 16, 2019

Do you spend time volunteering for charity? While you can’t deduct the value of your time, you may be able to deduct some of the out-of-pocket costs. Here are the rules.
Tax Advice: Summer, a Good Time to Review Your Investments

July 16, 2019

As the old song goes: “Summertime, and the livin’ is easy.” But take some time to review your investment portfolio for possible growth and tax reduction strategies.
For Small Businesses: Time to Buy Equipment & Other Depreciable Property

July 16, 2019

The Section 179 deduction and bonus depreciation for business assets have been increased and expanded. Learn more about these valuable tax breaks.
For Small Businesses: M&A Transactions & Avoiding Surprises from the IRS

July 9, 2019

If you buy or sell business assets in an M&A deal, you’re required to report the details of the transaction to the IRS. The tax agency may then compare what both parties report to
ensure they’re identical.
Tax Advice: You May Have to Pay Tax on Social Security Benefits

July 8, 2019

If you’re getting close to retirement age, you may be wondering if your Social Security benefits are going to be taxed. And if so, how much will you have to pay?
For Small Businesses: Bartering, a Taxable Transaction

July 8, 2019

Business owners have been engaging in bartering transactions for hundreds of years. But if your company trades goods or services today, be aware there are tax consequences.
Tax Advice: Kids at Day Camp? You May Be Eligible for a Tax Break

June 25, 2019

If you meet certain requirements, you may be eligible for a tax break on summer day camp expenses you pay for your child. Here is a rundown of the rules.
For Small Businesses: "Which Entity is Most Suitable for Me?"

June 25, 2019

In the past couple of years, major changes have been made to the taxation of both C corporations and pass-through entities (including sole proprietorships). So what’s the best
entity choice for your small business?
Tax Advice: Is an HSA Right for You?

June 21, 2019

Would you like to pay health care expenses from a tax-advantaged account? A Health Savings Account (HSA) may be right for you.
For Small Businesses: Q3 Tax Calendar Deadlines

June 17, 2019

Although you might want to enjoy the lazy days of summer, employers and businesses shouldn’t take it so easy that they miss these important Q3 2019 tax deadlines.
Tax Advice: Why Donating Your Vehicle May Not Be Taxwise

June 17, 2019

A tax deduction isn’t the only reason for donating a vehicle to charity. But if you’re counting on one, make sure you understand the rules. You may wind up with a small deduction
or none at all.
For Small Businesses: Beware a Harsh Payroll Tax Penalty

June 13, 2019

If payroll taxes withheld from employees’ paychecks aren’t remitted to the federal government, a severe tax penalty can be personally imposed on “responsible” individuals.
For Small Businesses: Hiring This Summer? You May Qualify for a Valuable Tax Credit

June 12, 2019

New hires from certain disadvantaged “targeted” groups may qualify your business for the Work Opportunity Tax Credit. Here’s an overview of this potentially valuable tax break,
including how it’s calculated.
Tax Advice: Considering Retired to Another State? Consider Taxes

June 12, 2019

Many people dream of retiring to another state to take advantage of warm weather or to be close to loved ones. But before you call the moving truck, consider the impact of state
and local taxes.
Tax Advice: Though Chances of IRS Audit Are Down, Be Prepared

June 6, 2019

An IRS audit may be nothing to lose sleep over. In many cases, the IRS closes an audit after receiving requested documentation. Here are the latest audit statistics, as well as
some tips on how to survive an IRS examination.
For Small Businesses: Tax-Smart Domestic Travel

June 5, 2019

Are you going on a business trip within the United States this summer? You might be able to add on some vacation days and deduct some of your expenses.
For Small Businesses: Hire Your Children This Summer, Everyone Wins

June 5, 2019

Are you a business owner with teenage or college-age children who constantly need money? Make them earn the money by hiring them. You can save taxes and reap other benefits.
Tax Advice: Now's a Good Time to Check Your Withholding

June 5, 2019

If you were shocked by a bigger tax bill in 2019, you might not be having the right amount of tax withheld from your paycheck. We’ll tell you how to avoid this next year.
Infographic: How Valuators Adjust a Financial Picture

May 29, 2019

Sometimes professional valuators tweak financial statements before using them to appraise a business. Here are three common types of adjustments.
Tax Advice: Selling Your Home? Consider These Tax Implications

May 16, 2019

Are you selling your principal residence? You may be able to exclude up to $250,000 ($500,000 for married joint filers) of gain. Here are the tax rules for home sales.
For Small Businesses: Consider a Roth 401(k) Plan — and Make Sure Employees Use It

May 16, 2019

A Roth 401(k) can be a valuable retirement savings option to add to your company’s benefits package. But make sure employees use it.
Tax Advice: Check on Your Refund — and Learn Why the IRS May Not Send It

May 9, 2019

In most cases, refunds are routinely sent to taxpayers within a few weeks. However, there may be delays, or, in worst-case scenarios, refunds may be applied to debts owed to the
federal or state governments.

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