Category: Business Tax

Funny thing about customers: They can keep you in business — but they can also put you out of it. The latter circumstance often arises when a company overly relies on a few customers that abuse their credit to the point where the company’s cash flow...

The federal tax reform highlights affecting businesses include a flat rate for c corporations, new limits in business loss deductions, section 179 expensing changes, luxury auto depreciation annual limit increases and other provisions included in this blog....

Employees tend not to fully appreciate or use their retirement benefits unless their employer communicates with them about the plan clearly and regularly. ...

You may keep a wary eye on your competitors, but sometimes it helps to look just a little bit deeper. Even if you’re a big fish in your pond, someone a little bigger may be swimming up just beneath you. Being successful means not just being aware of these competitors, but...

When determining how long to keep most of your income tax records, we look to the time frame that the IRS or state revenue agency can audit a tax return. ...

A major provision in the Tax Cuts and Jobs Act is a 20% deduction available for pass-through entities with qualified business income. Pass-through entities include sole proprietors, partnerships, and S corporations....

As we uncover the details associated with the Tax Cut and Jobs Act and apply the rules to the real-world activities in our trades and businesses we found conflicting messages associated with the deductibility of certain entertainment expenses....

The Tax Cuts and Jobs Act effectively lowers the cost of acquiring capital assets by making substantial changes to the income tax rules for bonus depreciation and other "cost recovery" methods....

For many companies, there comes a time when owners must decide whether to renew a lease, move on to a different one or buy new (or pre-existing) space. In some cases, it’s a relatively easy decision. Maybe you’re happy where you are and feel like such a part of the local...

1. Liquidity: The owners want to ensure a ready market for their ownership interests (in the event of death, disability, retirement, etc.). A mandatory buyout provision provides liquidity to the family of a deceased or disabled owner....

School is out and you are wondering how to keep your kids occupied for the summer – why not think about hiring them to work in your business?  This is an option for many business owners as long as the federal and state laws are followed.  You need to treat your child as ...