SHOULD YOU FILE FORM SS-8 TO ASK THE IRS TO DETERMINE A WORKER’S STATUS? Classifying workers as independent contractors — rather than employees — can save businesses money and provide other benefits. But the IRS is on the lookout for businesses that do this improperly to avoid taxes and employee

MAKE SURE REPAIRS TO TANGIBLE PROPERTY WERE ACTUALLY REPAIRS BEFORE YOU DEDUCT THE COST Repairs to tangible property, such as buildings, machinery, equipment or vehicles, can provide businesses a valuable current tax deduction — as long as the so-called repairs weren’t actually “improvements.” The costs of incidental repairs and maintenance

TAX CUTS AND JOBS ACT: KEY PROVISIONS AFFECTING BUSINESSES The recently passed tax reform bill, commonly referred to as the “Tax Cuts and Jobs Act” (TCJA), is the most expansive federal tax legislation since 1986. It includes a multitude of provisions that will have a major impact on businesses. Here’s

ACCRUAL-BASIS TAXPAYERS: THESE YEAR-END TIPS COULD SAVE YOU TAX With the possibility that tax law changes could go into effect next year that would significantly reduce income tax rates for many businesses, 2017 may be an especially good year to accelerate deductible expenses. Why? Deductions save more tax when rates

IS YOUR BUSINESS A GHOST TOWN THIS TIME OF YEAR? GETTING AROUND THE $25 DEDUCTION LIMIT FOR BUSINESS GIFTS At this time of year, it’s common for businesses to make thank-you gifts to customers, clients, employees and other business entities and associates. Unfortunately, the tax rules limit the deduction for

HOW TO MAXIMIZE DEDUCTIONS FOR BUSINESS REAL ESTATE Currently, a valuable income tax deduction related to real estate is for depreciation, but the depreciation period for such property is long and land itself isn’t depreciable. Whether real estate is occupied by your business or rented out, here’s how you can

ACCELERATE YOUR RETIREMENT SAVINGS WITH A CASH BALANCE PLAN Business owners may not be able to set aside as much as they’d like in tax-advantaged retirement plans. Typically, they’re older and more highly compensated than their employees, but restrictions on contributions to 401(k) and profit-sharing plans can hamper retirement-planning efforts.

2017 Q4 TAX CALENDAR: KEY DEADLINES FOR BUSINESSES AND OTHER EMPLOYERS Here are some of the key tax-related deadlines affecting businesses and other employers during the fourth quarter of 2017. Keep in mind that this list isn’t all-inclusive, so there may be additional deadlines that apply to you. Contact us