The CHIPS Act aims to bolster semiconductor production and economic competitiveness. Among its provisions is an investment tax credit for manufacturing facilities and equipment.
Three tax breaks for small businesses
You don’t have to be a large business to benefit from tax breaks. Here are 3 ways that eligible small businesses can save on taxes.
Businesses: Act now to make the most out of bonus depreciation
If your business plans to purchase bonus depreciation qualifying property, take action soon to realize a valuable tax break.
2022 Q3 tax calendar: Key deadlines for businesses and other employers
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.
Businesses will soon be able to deduct more under the standard mileage rate
Business owners: Are high gas prices getting you down? The IRS is providing some relief by raising the optional standard mileage rate for the last six months of 2022.
Standard business mileage rate will increase for the second half of 2022
Because of the soaring price of gasoline, the IRS has increased the standard mileage rate for qualified business driving for the second half of 2022 from 58.5 cents per mile to 62.5 cents per mile.
Calculating corporate estimated tax
An important deadline is coming up for quarterly federal estimated tax payments. Here are four methods for corporations to compute them.
Proposed regs for inherited IRAs bring unwelcome surprises
The SECURE Act nixed the “stretch IRA” and replaced it with a new 10-year rule on inherited IRAs. However, subsequent IRS guidance has created confusion about when certain beneficiaries must begin taking distributions.
Is your construction company at risk for employee misclassification?
Sometimes construction contractors use independent contractors for their projects. If your business does, be sure to manage the risk of employee misclassification.