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Tax Advice Small Business

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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.
For Small Businesses: What to Do If You Receive a "No-Match" Letter

August 15, 2019

If the names and Social Security numbers on your employees’ W-2 forms don’t match the government’s records, you may receive a “no-match letter.” Here’s what these letters mean and
how to proceed.
Infographic: On "Tingle Tables"

August 6, 2019

What's the story on these desks, and are they still used by the IRS today?
Tax Advice: The "Kiddie Tax" Hurts Families More Than Ever

August 1, 2019

If your child or grandchild has unearned income from dividends, interest and capital gains, beware of the “kiddie tax.” Your family may be hit even harder by the tax under current
law.
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.

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