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Aug
10
2020

Small Business Tax Briefs: August 2020

In this post: File cash transaction reports for your business — on paper or electronically. The possible tax consequences of PPP loans.

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Jul
27
2020

Small Business Tax Briefs: July 2020

In this post: Steer clear of the Trust Fund Recovery Penalty. Businesses: Get ready for the new Form 1099-NEC. Even if no money changes hands, bartering is a taxable transaction. Why do partners sometimes report more income on tax returns than they receive in cash?

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Jun
29
2020

Small Business Tax Briefs: June 2020

In this post: Business meal deductions: The current rules amid proposed changes. Rioting damage at your business? You may be able to claim casualty loss deductions. Good records are the key to tax deductions and trouble-free IRS audits. Launching a business? How to treat start-up expenses on your tax return. Haven’t filed your 2019 business tax return yet? There may be ways to chip away at your bill.

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May
26
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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Apr
27
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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Mar
30
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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Feb
10
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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Jan
27
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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Jan
17
2020

What Landlords Should Know About Taxes

Landlords need to include these rental-related payments in their gross income.

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Dec
30
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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