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.
2023 Q3 tax calendar: Key deadlines for businesses and other employers
You might want to enjoy the lazy days of summer, but employers and businesses need to make sure not to miss these third-quarter 2023 tax deadlines.
Traveling for business this summer? Here’s what you can deduct
Here’s a rundown of the tax deductions you can claim for business travel.
Keep these DOs and DON’Ts in mind when deducting business meal and vehicle expenses
Keeping careful business records for meal and vehicle expenses can safeguard your tax deductions. Here are some DOs and DON’Ts.
The IRS has just announced 2024 amounts for Health Savings Accounts
Does your business provide Health Savings Accounts (HSAs) to employees? The IRS has announced the inflation-adjusted amounts for 2024. Here they are, along with the benefits of HSAs
If you’re hiring independent contractors, make sure they’re properly handled
These days, many businesses are filling vacant positions and saving money by using independent contractors. Here are the basic rules to help keep you out of trouble with the IRS.