News

For Small Businesses: Key Q3 Tax Calendar Deadlines

June 27, 2022

If you’re a business owner or executive, you might be taking it a little easy this summer. But don’t take it so easy that you forget about these third-quarter tax deadlines.

For Small Businesses: About Eligibility for the Dividends-Received Deduction

June 16, 2022

The “dividends-received deduction” may take some of the bite out of a C corporation’s tax bill. Here’s how.

For Small Businesses: Apply the Research Credit Against Payroll Taxes

June 7, 2022

Small businesses and start-ups engaging in research activities: Here’s a way to save on payroll taxes.

For Small Businesses: Calculating Corporate Estimated Tax

June 6, 2022

An important deadline is coming up for quarterly federal estimated tax payments. Here are four methods for corporations to compute them.

For Small Businesses: Partners May Have to Report More Income Than Thought

May 30, 2022

If you’re involved in a partnership, you likely know it’s taxed differently than a C corporation. In some cases, partners may be taxed on more partnership income than was distributed to them from their partnerships. Here’s why.

Infographic: A Compensation Plan That Rewards Top Talent

May 24, 2022

If you're looking for a way to incentivize and retain key employees, considering offering a nonqualified deferred compensation (NQDC) plan.

For Small Businesses: Prepare for the Lower 1099-K Filing Threshold

May 24, 2022

Starting with the 2022 tax year, filing and receiving 1099-K forms will be much more complicated for many businesses and self-employed individuals.

For Small Businesses: Inflation Enhanced the '23 Amounts for HSAs

May 16, 2022

If your business provides Health Savings Accounts to employees, you know they have many benefits. Here are a few of them, along with the inflation-adjusted amounts for 2023. Hint: They’re going up more than they have in recent years due to high inflation.

For Small Businesses: What to Know About the IRS' Recent 1099 Notices

May 3, 2022

If your business has independent contractors or makes other payments to customers or others, you probably file 1099 forms with the IRS. The tax agency is currently sending out notices about these forms to some taxpayers.

For Small Businesses: Consider This When Adding a New Partner

April 25, 2022

If you’re looking for a new partner to add to your partnership, you may think the hard part is over once you find the right person. But there may be tax challenges ahead.

For Small Businesses: On Converting From a C Corp to an S Corp

April 14, 2022

If your business operates as a C corporation, you may save tax by becoming an S corporation. Here’s a rundown of four issues to consider when converting from C corporation to S corporation status.

For Small Businesses: Fully Deduct Business Meals This Year

April 4, 2022

Wining and dining customers and employees can result in tax deductions and for 2022, the write-offs are bigger than usual.

For Small Businesses: Q2 Tax Calendar

March 28, 2022

Does this year’s April 18 filing deadline apply to your company? What additional tax deadlines are there for businesses and employers during the second quarter of 2022?

Infographic: A Tip for Retaining Employees

March 25, 2022

Though the labor market has stabilized since 2021's "Great Resignation," some businesses continue to lose employees and struggle to replace them. You might try to stem this issue by conducting "stay interviews."

For Small Businesses: Ways to Accelerate Taxable Income & Defer Deductions

March 21, 2022

The best tax planning actions for your business partially depend on whether you expect federal income tax rates to go up, go down or stay the same in the future. Here are some ideas if you think rates could go up.

For Small Businesses: Establish a Tax-Favored Retirement Plan

March 15, 2022

If you’re a business owner, setting up a retirement plan is easier than you may think. And there’s still time to establish most types of plans for LAST year.

For Small Businesses: Does Your Business Barter? Things to Know

March 8, 2022

Bartering is the oldest form of trade and the internet has made it easier to engage with other businesses. It’s especially popular during tough economic times. But if you trade goods or services, be aware of the tax consequences.

For Small Businesses: On Applying the Research Tax Credit Against Payroll Taxes

February 28, 2022

Does your startup business have little or no income tax liability? You may be eligible for a payroll tax credit election for increasing research activities.

Infographic: Why Your Company Needs an Expense Reimbursement Policy

February 28, 2022

For Small Businesses: Can You Deduct Spouse Costs on a Trip?

February 25, 2022

If you own your own business, the rules for deducting a spouse’s travel costs are very restrictive. Here are the rules.

For Small Businesses: Withdrawing From Your Closely Held Corp at Minimum Tax Cost?

February 20, 2022

Dividends paid out by corporations are taxable to shareholders and can’t be deducted by the corporation. But there might be ways to get cash out of your corporation without dividend treatment. Here are some approaches.

For Small Businesses: Important Tax Aspects of Being a Sole Proprietor

February 8, 2022

Many small businesses operate as sole proprietorships. Here are eight tax issues involved in operating as this entity.

For Small Businesses: Why to Keep Meticulous Records

February 8, 2022

A careful approach to keeping business records can protect your tax deductions and help make an IRS audit much less difficult. Here are two cases to illustrate some of the issues involved.

For Small Businesses: How Entrepreneurs' Expenses Are Claimed

January 25, 2022

Entrepreneurs be aware: Not all start-up expenses can be deducted on your federal tax return right away. Some may have to be amortized over time.

For Small Businesses: Numerous Tax Limits Have Increased for '22

January 18, 2022

How much can your employees contribute to 401(k) plans this year? How much will your business be able to deduct for business meals, driving expenses and equipment in 2022? Here are the answers to these and other questions about tax inflation adjusted amounts and other changes affecting businesses.