Small businesses: There still may be time to cut your 2021 taxes
Learn how to deduct 100% of the cost of items as bonus depreciation. Continue Reading Small businesses: There still may be time to cut your 2021 taxes
Learn how to deduct 100% of the cost of items as bonus depreciation. Continue Reading Small businesses: There still may be time to cut your 2021 taxes
To help you make sure you don’t miss any important 2022 deadlines, we’ve provided this summary of when various tax-related forms, payments and other actions are due. Continue Reading 2022 Tax Calendar
Businesses must keep records of their income and expenses. Carefully record them in order to claim the full amount of tax deductions to which you’re entitled. Continue Reading Keeping Meticulous Records is the Key to Tax Deductions and Painless IRS Audits
While some businesses have closed since the start of the COVID-19 crisis, many new ventures have launched. If you’ve recently started a new business, or you’re contemplating starting one, be aware of the tax implications. Continue Reading Entrepreneurs and Taxes: How Expenses are Claimed on Tax Returns
A number of tax limits affecting businesses are annually indexed for inflation and many have increased for 2022. Continue Reading Numerous Tax Limits Affecting Businesses Have Increased for 2022
Restricted gifts generally require a higher level of care from not-for-profits that receive them. Continue Reading Handle Your Nonprofit’s Restricted Gifts with Care
While Congress didn’t pass the Build Back Better Act in 2021, there are still tax changes that may affect your tax situation for this year. Continue Reading How Will Revised Tax Limits Affect Your 2022 Taxes?
Are you an employer who owns a business where tipping is customary for providing food and beverages? You may qualify for a valuable tax credit involving the Social Security and Medicare (FICA) taxes that you pay on your employees’ tip income. Continue Reading Businesses with Employees Who Receive Tips May Be Eligible for a Tax Credit
When reviewing your company’s inventory practices, start by evaluating whether you’re using the right accounting method. Continue Reading Reporting and Managing Inventory
Do you want to sell commercial or investment real estate that has appreciated significantly? Continue Reading Defer Tax with a Like-Kind Exchange
If your business has co-owners, you probably need a buy-sell agreement
/in Tax/by KKB CPAsFor most business co-owners, the value of their business shares comprises a big percentage of their estates. Having a buy-sell agreement protects co-owners and their heirs and helps avoid hassles with the IRS. Continue Reading If your business has co-owners, you probably need a buy-sell agreement
Consider borrowing from your corporation but structure the deal carefully
/in Tax/by KKB CPAsClosely held corporation owners: If you need money for personal expenses like a new car or home improvements, consider borrowing from the business. But follow these tips to avoid adverse tax consequences. Continue Reading Consider borrowing from your corporation but structure the deal carefully
SECURE 2.0: Which provisions went into effect in 2024?
/in Tax/by KKB CPAsNow is the time to get up to speed on 2024 SECURE 2.0 changes. Here are several to consider. Continue Reading SECURE 2.0: Which provisions went into effect in 2024?