Choosing the best entity for your business is a multi-faceted decision. Here’s a look at the some of the considerations.
Business automobiles: How the tax depreciation rules work
Complex calculations are involved in claiming depreciation deductions for the business use of a passenger automobile. Here are the basic rules.
What types of expenses can’t be written off by your business?
You want to be able to deduct business expenses on your tax return. But in order to be deductible, expenses must be ordinary, necessary and reasonable. Here are the rules.
2023 Q4 tax calendar: Key deadlines for businesses and other employers
The leaves are beginning to turn in some areas so it’s time for businesses to start thinking about year-end tax strategies. It’s also a good time to think about the fourth quarter 2023 tax filing deadlines.
Update on depreciating business assets
Inflation has some beneficial side effects. One is that the amount of depreciation tax breaks your business can claim has increased for 2023. Here are the rules.
Receive more than $10,000 in cash at your business? Here’s what you must do
Some businesses receive large amounts of cash. Depending on the amounts, they may be required to report the transactions to the IRS.
The advantages of using an LLC for your small business
You can operate your small business in several ways. For example, your entity can be a sole proprietorship, an S corporation or a partnership. Here are the advantages of operating as a limited liability company (LLC).
A tax-smart way to develop and sell appreciated land
There may be a way to reduce a large tax bill if you own appreciated land that you want to subdivide and develop for sale. Here’s a three-step strategy.
Corporate officers or shareholders: How should you treat expenses paid personally?
When spending money personally on behalf of your closely held corporation, you want to ensure the expenses are tax deductible by either you or the business. Here are the key considerations.