Office Locations & Staff Search

Chardon | Mentor | Twinsburg | Middlefield | Burton

Refund Tracker Make a Payment Client Portal Contact Us

Refund Tracker Make a Payment Client Portal Contact Us

News

Select a Category

Tax Advice Small Business

Home › News

For Small Businesses: New Per Diem Travel Rates Effective 10/1

October 11, 2021

The IRS has announced the special “per diem” rates that became effective Oct. 1, 2021. Here are the basics of these rates.
For Small Businesses: Be Careful When Reporting M&A Transactions

October 11, 2021

Have you bought or sold business assets in an M&A deal in 2021 or are in the process of a transaction? If so, you must report the details to the IRS. The tax agency may then compare what both parties report to ensure they match.
For Small Businesses: 2021 Q4 Tax Calendar

October 5, 2021

With fall foliage here in many areas, it’s time for businesses to start thinking about year-end tax strategies. It’s also time to think about the fourth quarter 2021 tax filing deadlines.
For Small Businesses: Tax Depreciation Ryles for Business Vehicles

September 23, 2021

Claiming depreciation deductions for a passenger automobile can involve complex calculations. Here are the basic rules.
For Small Businesses: Tax Breaks During National Small Business Week

September 15, 2021

Before Dec. 31, you may want to make some tax moves to save on 2021 taxes. Here are a few strategies.
For Small Businesses: If Your Business Falls Victim to Embezzlement

September 9, 2021

If your business is victimized by theft, embezzlement or internal fraud, you may be able to claim a tax deduction for the loss. But there are requirements that must be followed as one U.S. Tax Court decision illustrates.
For Small Businesses: Want to Find Out What IRS Auditors Know?

September 2, 2021

If you own or operate a business, you may not know that the IRS has “Audit Techniques Guides” for certain industries and tax issues. IRS examiners use them to prepare for audits and you can read them too. Here’s how.
For Small Businesses: Tax Implications of Divorce on Your Business

August 24, 2021

Divorce may have tax implications for the spouses involved, especially if one or both of them owns a business. Here are some of the issues involved.
Tax Advice: ABLE Accounts May Help Family with Disabilities

August 17, 2021

Do you have a disabled family member that you’d like to help out financially but you don’t want them to lose eligibility for their government benefits? You may be able to use a tax-advantaged ABLE account.
For Small Businesses: On Guaranteeing a Loan to Your Corporation

August 17, 2021

If your corporation defaults on a loan that you guarantee, you don’t want to be blindsided by the tax implications.
For Small Businesses: Large Cash Transactions Must Be Reported to the IRS

August 10, 2021

Certain types of businesses receive large payments of cash. They may be required to report the transactions to the IRS. Here are the rules.
For Small Businesses: Is an LLC the Right Choice for You?

August 10, 2021

There are several options for operating your small business. For example, a sole proprietorship, an S corporation or a partnership. Take a look at why a limited liability company (LLC) might be right for you.
For Small Businesses: Getting a New Business Off the Ground

August 10, 2021

Business applications have increased over the past year, according to the U.S. Census Bureau. If you’re launching a business, here’s how start-up expenses are treated on a federal tax return.
For Small Businesses: On the Deductability of Corporate Expenses

July 28, 2021

If you spend money personally on behalf of your closely held corporation, you want to make sure either you or the business can deduct the expense. Here are the rules.
For Small Businesses: Who Can Be Hit With "Trust Fund Recovery Penalty"?

July 18, 2021

The IRS will impose the “Trust Fund Recovery Penalty” on certain business owners and managers personally if employment taxes aren’t paid to the government. Find out if you could be liable.
For Small Businesses: 10 Facts About the Pass-Through Deduction

July 8, 2021

Owners of “pass-through” businesses can claim a valuable tax deduction that was created by a 2017 law. Here’s how much it’s worth and who is eligible.
For Small Businesses: Claim the Employee Retention Tax Credit If Eligible

June 29, 2021

If your business hasn’t already claimed the Employee Retention Tax Credit, you should check out if you’re eligible. The money can help with the costs you incur in hiring and retaining employees during the pandemic.
For Small Businesses: Traveling Again? What Can You Deduct?

June 27, 2021

On the road again for business? Here’s a rundown of costs you can deduct for business travel.
Infographic: Is Your Business Eligible for the ERC?

June 25, 2021

What you need to know now about the employee retention credit.
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.

1 2 3 4 5 6 7 8 9 10

BBB

All Rights Reserved 2021, NMS, Inc. | Privacy | Admin Login | Digital Marketing & Paid Search Advertising by Alt Media Studios