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For Small Businesses: COVID-19 Tax Relief for You

March 24, 2020

In response to the coronavirus (COVID-19), Congress and the IRS have recently provided tax relief to businesses. Here’s a brief rundown.
For Small Businesses: Determine a Reasonable Salary for a Corporate Business Owner

March 19, 2020

When it comes to executive compensation, C corporation owners need to keep it “reasonable.” Here’s why.
For Small Businesses: Time Remains to Set Up a SEP Plan for '19

March 16, 2020

Saving money for retirement is important to a business owner’s financial security. If you haven’t set up a retirement plan for yourself and your employees for 2019, you may still
be able to do so, and reduce your tax liability for last year.
For Small Businesses: Work Opportunity Tax Credit Extended Through '20

March 2, 2020

The Work Opportunity Tax credit was set to expire on Dec. 31, 2019. But a law passed late last year extends it through Dec. 31, 2020. Here’s how employers can benefit.
For Small Businesses: On Rules for Home Office Deductions

February 24, 2020

Do you operate your business from home or perform certain functions at home that are related to your business? You might be able to claim home office deductions on your tax return.
For Small Businesses: On Using an S Corporation to Reduce Tax

February 18, 2020

If you conduct your business as an S corporation, you’ll be subject to income tax, but not self-employment tax, on your share of the S corporation’s income. Could this be the entity for you?
For Small Businesses: Want to Go Into Business for Yourself?

February 10, 2020

There are many ways to conduct a business for tax purposes, including as an S corporation or a partnership. But many new ventures start out as sole proprietorships. Here are nine tax rules and considerations involved in operating as that entity.
For Small Businesses: Tips? You Might Be Eligible for Tax Credits

February 8, 2020

Employers in the food and beverage industry may be eligible for a valuable tax break with the FICA tip credit. Here’s how it works.
For Small Businesses: Numerous Tax Limits Have Increased

February 4, 2020

How much can your employees contribute to 401(k) plans this year? How much do employees have to earn in 2020 before they can stop paying Social Security tax? Here are the answers
to these and other questions about annual tax-related inflation adjustments affecting businesses.
For Small Businesses: Cents-Per-Mile Rate Decreases Slightly for 2020

January 25, 2020

Your business can generally claim vehicle expense deductions by either calculating the actual expenses or using the IRS’s standard mileage rate, which has decreased slightly for 2020. Here are the details.
For Small Businesses: New Rules to Affect Annual Disclosures

January 17, 2020

Are you an employer who sponsors a tax-favored defined contribution plan? The recently enacted SECURE Act includes a new requirement for you. Here are the details.
For Small Businesses: New Law Helps Make Employees' Retirement Secure

January 6, 2020

Small businesses: The Setting Every Community Up for Retirement Enhancement Act (SECURE Act) was recently signed into law. It has provisions that may be of interest to you if you have a retirement plan for employees or are thinking of adding one.
For Small Businesses: New Law Provides Variety of Tax Breaks

January 3, 2020

Good news for businesses and employers: A new law provides federal tax relief. Here are five highlights.
Infographic: Is It Time to Change Performance Reviews?

December 27, 2019

There may be a better way to conduct employee performance reviews. Consider this!
For Small Businesses: 2 Valuable Year-End Tax-Savings Tools

December 4, 2019

How can your business save tax before year end? If you buy eligible assets and place them in service by December 31, you can claim valuable depreciation deductions. It’s a potent year-end tax planning strategy.
For Small Businesses: If Your Business Engages in Environmental Cleanup

November 21, 2019

Many businesses engage in cleaning up environmental contamination. Unfortunately, every type of environmental cleanup expense cannot be currently deducted on your tax return. Here
are the basic rules.
Infographic: 5 Ways to Trim 2019 Taxes

November 21, 2019

Does your business use an accrual-based accounting system? If so, check this out.
For Small Businesses: Get Ready for Your 1099-MISC Reporting Requirements

November 13, 2019

Has your small business paid independent contractors, vendors or others at least $600 for services during 2019? Here are the reporting requirements you may face.
For Small Businesses: Avoid a Severe Payroll Tax Penalty

November 8, 2019

Did you know you could be personally liable for a harsh penalty if payroll taxes withheld from your employees aren’t paid over to the federal government? Learn more about whom the IRS can go after at your business.
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.
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.
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.
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.

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