When developing your business’s website, how do you handle the expenses for tax purposes? Here are the basic rules. Continue Reading Business website expenses: How they’re handled for tax purposes
We’ll be saying goodbye to 2024 in no time. Here are some year-end moves to consider that may help your small business save on taxes. Continue Reading It’s time for your small business to think about year-end tax planning
If your business is closing, taxes are probably not on your mind but there are a number of tax responsibilities that must be met. Here’s a rundown of the basic rules. Continue Reading Closing a business involves a number of tax responsibilities
Many businesses have a choice of using cash or accrual accounting for tax purposes. If you’re one of them, which route should you take? Here are the rules. Continue Reading What’s the best accounting method route for business tax purposes?
If you’re a small business owner, you may be reluctant to set up a retirement plan because of the administrative burdens. Here are two options to consider that have far fewer requirements than traditional qualified retirement plans. Continue Reading Retirement saving options for your small business: Keep it simple
Hiring a bookkeeper for your small business can be a daunting task. Here are some helpful tips. Continue Reading Now hiring: 10 questions to ask bookkeeper candidates
With Republicans now in control of the U.S. House of Representatives, what’s the fate of prospective tax legislation in 2023? Continue Reading Reading the tea leaves: Potential tax legislation in the new Congress
If you’re a parent, you know that children are expensive. Fortunately, there’s a federal Child Tax Credit that may help you with the expenses. Here are the current rules. Continue Reading Child tax credit: The rules keep changing but it’s still valuable
Breaking into a retirement plan before age 59½ may result in a penalty tax. But there are exceptions. Here are the rules, along with what happened to one taxpayer who tried to avoid the penalty because he had diabetes. Continue Reading Retirement plan early withdrawals: Make sure you meet the requirements to avoid a penalty
Have you heard ads on TV telling businesses how they can claim a huge Employee Retention Credit? It might be possible for some employers but it also might be too good to be true. Continue Reading Employers should be wary of ERC claims that are too good to be true
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Advantages of keeping your business separate from its real estate
/in Tax/by KKB CPAsIt may be advantageous to separate ownership of a business’s real estate from the business. But it isn’t always advisable. Here’s a look at the issues. Continue Reading Advantages of keeping your business separate from its real estate
Cutoffs: When to report revenue and expenses
/in Tax/by KKB CPAsDoes your company follow the cutoff rules? Loose interpretation of the accounting rules can lead to errors and unexpected audit adjustments. Here’s how to get it right. Continue Reading Cutoffs: When to report revenue and expenses
Help ensure your partnership or LLC complies with tax law
/in Tax/by KKB CPAsGuaranteed payments to partners and payments to retired partners are just two of the tax issues that should be addressed in your partnership (or LLC operating) agreement. Here are the details. Continue Reading Help ensure your partnership or LLC complies with tax law