Blog
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2020
Small Business Tax Briefs: May 2020
In this post: The CARES Act liberalizes net operating losses. Business charitable contribution rules have changed under the CARES Act. CARES Act tax breaks to help retail businesses. Fortunate enough to get a PPP loan? - Forgiven expenses aren’t deductible. IRS releases 2021 amounts for Health Savings Accounts.
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2020
Small Business Tax Briefs: April 2020
In this post: Answers to questions about the CARES Act employee retention tax credit. Relief from not making employment tax deposits due to COVID-19 tax credits. New COVID-19 law makes favorable changes to “qualified improvement property”. Hiring independent contractors? Make sure they’re properly classified.
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2020
Small Business Tax Briefs: March 2020
In this post: Work Opportunity Tax Credit extended through 2020. Determine a reasonable salary for a corporate business owner. Small business owners still have time to set up a SEP plan for last year. Coronavirus (COVID-19): Tax relief for small businesses. The new COVID-19 law provides businesses with more relief.
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2020
Small Business Tax Briefs: February 2020
In this post: Do your employees receive tips? You may be eligible for a tax credit. Do you want to go into business for yourself? How business owners may be able to reduce tax by using an S corporation. Do you run your business from home? You might be eligible for home office deductions.
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2020
Small Business Tax Briefs: January 2020
In this post: New law helps businesses make their employees’ retirement secure. New rules will soon require employers to annually disclose retirement income to employees. Cents-per-mile rate for business miles decreases slightly for 2020. Numerous tax limits affecting businesses have increased for 2020.
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2020
What Landlords Should Know About Taxes
Landlords need to include these rental-related payments in their gross income.
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2019
Small Business Tax Briefs: December 2019
In this post: Holiday parties and gifts can help show your appreciation and provide tax breaks. 2020 Q1 tax calendar: Key deadlines for businesses and other employers. Small Businesses: It may not be not too late to cut your 2019 taxes. Wayfair revisited — It’s time to review your sales tax obligations. New law provides a variety of tax breaks to businesses and employers.
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2019
FEDERAL TAX POSTS
Have you kept up with notifications and public messages from the IRS? Check out these recent Federal tax posts to see you may have missed.
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2019
Small Business Tax Briefs: November 2019
In this post: Small businesses: Stay clear of a severe payroll tax penalty. Small businesses: Get ready for your 1099-MISC reporting requirements. The tax implications if your business engages in environmental cleanup. 2 valuable year-end tax-saving tools for your business.
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2019
Small Business Tax Briefs: October 2019
In this post: Understanding and controlling the unemployment tax costs of your business. Setting up a Health Savings Account for your small business. Accelerate depreciation deductions with a cost segregation study. Thinking about converting from a C corporation to an S corporation?
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