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For Small Businesses: 2021 Q3 Tax Calendar Key Deadlines

June 16, 2021

Although you might want to enjoy the lazy days of summer, employers and businesses should be careful not to miss these third quarter 2021 tax deadlines.
For Small Businesses: DOs & DON'Ts for Meal, Vehicle Expense Recordkeeping

June 8, 2021

Keeping meticulous business records for meal and vehicle expenses can protect your tax deductions. Here are some DOs and DON’Ts.
For Small Businesses: Reap Benefits for Hiring Your Minor Children This Summer

June 4, 2021

Are you a business owner with teenage or college-age children who constantly need cash? You may want to hire them to work at your business. You’ll save taxes and realize other benefits.
For Small Businesses: IRA Announces 2022 Amounts for HSAs

May 25, 2021

Businesses that provide Health Savings Accounts to employees know they have a variety of benefits. Here are a few of them, along with the inflation-adjusted amounts for the 2022 calendar year.
For Small Businesses: An S Corp Could Cut Your Self-Employment Tax

May 24, 2021

Business owners that operate as an S corporation are subject to income tax, but not self-employment tax, on their share of the entity’s income. Here’s how the rules work.
For Small Businesses: Basic Rules on Employee vs Independent Contractor

May 19, 2021

Employee or independent contractor? That’s the question businesses ask when they bring on certain workers. Here are the basic rules to help keep you out of tax trouble.
For Small Businesses: On Claiming the Business Energy Credit

May 11, 2021

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.
For Small Businesses: On Providing Education Assistance to Employees

May 11, 2021

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.
Infographic: Keep Your Network's Connections Strong

April 21, 2021

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.
For Small Business: On Simple Retirement Savings Options

April 21, 2021

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.
For Small Businesses: On "Reasonable Compensation" for a Corporate Business Owner

April 20, 2021

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.
For Small Businesses: Tax Advantages of Hiring Your Child

April 12, 2021

Thinking about hiring your teenager to work in your business? There can be significant tax benefits.
For Small Businesses: New Business Vehicle? Consider a Heavy SUV

March 30, 2021

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 Small Businesses: Is An S Corp Your Best Choice of Entity

March 24, 2021

What is the best choice of entity for a new business venture? It might be an S corporation. Here’s why.
For Small Businesses: Highlights in the New American Rescue Plan Act

March 20, 2021

You’ve probably heard about the new law that provides direct payments to eligible individuals. But what does the law provide to businesses?
For Small Businesses: Some Tax Considerations for New Small Businesses

March 10, 2021

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.
For Small Businesses: Work Opportunity Tax Credit Extended Through 2025

March 10, 2021

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.
For Small Businesses: Do You Qualify for Home Office Deductions?

February 22, 2021

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.
For Small Businesses: The Tax Implications of Buying or Selling?

February 16, 2021

Buying or selling a business may be the largest transaction you’ll ever make. Pay attention to taxes. After a deal is done, it may be too late to get the best tax results.
For Small Busineses: Many Tax Amounts Have Increased for 2021

February 15, 2021

How much do your employees have to earn in 2021 before they can stop paying Social Security tax? How much can they contribute to 401(k) plans this year? Here are the answers to these and other questions about tax-related inflation adjustments and changes affecting businesses.
For Small Businesses: On the New Form 1099-NEC and Revised 1099-MISC

February 1, 2021

A filing requirement is coming up if your business pays independent contractors or makes other payments.
For Small Businesses: On the Tax Consequences of PPP Loans

January 24, 2021

Businesses that have been hit hard by the COVID-19 may be able to obtain help with PPP loans. Here are the basic rules, as well as the tax implications.
Overview of Pandemic Relief Bill for Businesses

January 13, 2021

What follows is a summary of the stimulus relief for businesses that is part of the Consolidated Appropriations Act, 2021 (H.R. 133) which was signed into law on December 27, 2020.
For Small Businesses: On the Enhanced Employee Retention Tax Credit

January 12, 2021

The Employee Retention Tax Credit rewards employers that can afford to keep workers on the payroll during the COVID-19 crisis. Here’s how it changed under a new law.
For Small Businesses: What's New in the New COVID-19 Relief Law

January 7, 2021

Businesses received several favorable tax breaks in the COVID-19 relief bill that was recently signed into law. Here are just two of them.

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