Separating the ownership of a business’s real estate from the business isn’t always advisable. But it might be worthwhile in some situations.
Year-end tax planning ideas for your small business
Before you know it, the end of 2022 will be near. Here are some year-end moves to consider that may help your small business save on taxes.
The Inflation Reduction Act: what’s in it for you?
If you’re interested in purchasing energy-saving property for your home or an electric vehicle, you may qualify for a tax break under the new Inflation Reduction Act. Here are the basic rules.
Clean Vehicle Credit comes with caveats
The Inflation Reduction Act’s Clean Vehicle Credit might alter the timing of purchasing a new or used qualifying electric vehicle. Learn why.
Inflation Reduction Act provisions of interest to small businesses
The new Inflation Reduction Act provides small businesses with an incentive to increase their investments in research.
IRS offers penalty relief for 2019, 2020 tax years
The IRS is providing broad-based penalty relief to most taxpayers who filed certain 2019 and/or 2020 tax returns late due to the COVID-19 pandemic. Find out if you might qualify.
Home sweet home: Do you qualify for office deductions?
Many people started working from home during the pandemic and have continued working out of home offices. Some of them qualify for home office deductions, but unfortunately, not all of them do. Here are the rules.
Is your construction company a C corporation? Beware of “unreasonable” compensation
If your construction business is a C corporation, take care that you and other owners aren’t compensated “unreasonably” by IRS standards. A recent court case demonstrates why.
Why an LLC might be the best choice of entity for your business
A limited liability company can give you corporate-like protection from creditors while providing the benefits of taxation as a partnership. Can it work for you?